“Our deal will be finalised next year or in 2021,” he said, adding that King Power will continue focusing on the duty-free business in Thailand.

He added that though Thailand’s economy has shown slight growth, King Power has still been hurt by a slump in the number of tourists.

However, the company has continued maintaining its Creating Shared Value (CSV) budget at Bt200 million annually by focusing on music, sports and communities.

“We have continued organising CSV activities to support community products to export via our football team Leicester City. This will help them maintain sustainable income for a long time,” he said. “We want to improve the quality of life for Thai communities and people.”

The company is also supporting Thai footballers by given them a chance to train with Leicester City under the Fox Hunt campaign. Since 2017, 52 Thai footballers have been trained under the programme.

The award was jointly presented by the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Business Forum newspaper in collaboration with the Institute for Business Studies and Development (INBUS) and Vietnam Association of Accountants and Auditors (VAA). Other companies named Vietnam’s 10 Best Corporate Governance Companies on the stock exchange included Vinamilk, Vingroup, Mobile World and PVG.

This year, all listed companies from 30 sectors were evaluated and ranked based on 21 indicators related to all aspects of business activities according to their financial statements with comprehensive evaluation methods, applying technologies to ensure accurate and objective results.

Vu Tien Loc, Chairman of VCCI said: “It’s reasonable to assess only listed companies in this index because they are the best companies in the local market, which are also the most transparent companies. These effective and transparent companies were also the ones with the most capacity and best performance. And the performance for listed enterprises on the stock exchanges are now the measurements of Vietnamese companies’ health in general.”

Since its listing on Ho Chi Minh City Stock Exchange (HOSE) on February, 2017, Vietjet’s stock (coded VJC) quickly attracted domestic and foreign investors, becoming one of the best companies on HOSE and has been selected for the VN30 index.

With more than $3 billion in market capitalisation, Vietjet has been listed as one of Forbes’ Asia Pacific Best (over a billion) in 2019. Air Finance Journal magazine also ranked Vietjet 22nd in the top 50 airlines with the world’s best operating and financial indicators. Its stocks have just been listed in Vietnam Sustainability Index VNSI by HOSE for the period starting from August 5, 2019 to July 31, 2020. The index lists the top 20 stocks on HOSE with the best sustainable development scores.

Furthermore, the airline’s stocks have just listed in the basket of FTSE and VNM ETF portfolios with a total of 6 million shares, equivalent to 890 billion dongs in value.

Vietjet’s abilities in financial management and corporate governance are proven by good business performance. In the first half of 2019, Vietjet operated 68,821 flights, equivalent to 45 per cent of total flights operated by domestic airlines, transporting 13.5 million passengers in all networks. Air transport revenue reached 20,181 billion dongs in the first six months, an increase of 22 per cent and a pre-tax profit of 1,553 billion dongs, an increase of 15 per cent year on year.

Available seat kilometres (ASK) maintained well with CASK at 3.88 cents, CASK ex-fuel 2.27 cents, mainly from reducing fuel costs (down 4 per cent) and cost savings in management with operation expense reduced by 2 per cent.

Pattarajitra Pitchayawisitkul, managing director of Estella Prestige Ltd, distributor of chandeliers made of genuine crystal, said that the company has been in the business for more than 20 years.

“We are the authorised dealers of Europe’s leading crystal chandelier brands, including Euroluce, Copenlamp, Iris Cristal, Novaresi, Pedret and Castro Lighting, not to mention that we are an exclusive lighting partner of Swarovski chandelier. Today, we are proud to unveil that we have signed an exclusive dealership deal with Asfour Crystal, the largest manufacturer of crystal from Egypt. Customers can rest assured that purchasing crystal chandelier from Estella, you will have 100 per cent genuine crystal.

“Since we have been in this business for a long time and have distributed leading chandelier brands from Europe, especially Swarovski, Asfour Crystal has chosen us to become an exclusive dealer for the brand today. This should strengthen the Estella brand in Thailand further,” Patarajittra added.

Asfour Crystal is made from high-quality sand with a very little composition of iron and over 30 per cent of lead oxide which makes its crystals shine brighter than other brands. Also, nearly every piece of crystal created by Asfour has an eagle-like symbol attached to it.

Estella, meanwhile, has opened a new showroom at the Crystal Design Centre and another on Ratchaphruek Road with a team of experts on hand to provide knowledge on selecting the perfect crystal chandelier.

Estella’s customer base is made of 80 per cent homeowners and 20 per cent real-estate projects.

“We expect to see growth in sales by 30 per cent, thanks to the partnership with Asfour Crystal and growth in the residential market. We believe that the market of luxury houses priced at over Bt100 million will continue to grow, and we forecast that mid- to high-level market for housing will also expand. Most of Estella customers are of the upper-level,” Patarajittra added.

Abdelrahman Walid Asfour, executive director of Asfour Crystal International Ltd, said: “The appointment of Estella as an exclusive dealer will allow us to expand our customer base in Thailand as well as in Southeast Asia.

“Our marketing strategy this year will focus on developing new products and expanding our business. We introduced a new collection in the first quarter and plan to launch another in the third quarter. For market expansion, we have our eyes on several countries in Southeast Asia, Europe and America. We have new partners in Vietnam, France, Armenia and Utah in the US. Thailand is another market that we are committed to expanding and it will provide us with a channel to grow business in other countries in this region as well,” added Asfour.

BGIC aims to upgrade the Thai bio-pharmaceutical industry to international level, aimed at becoming the top research and manufacturing hub of biopharmaceutical development in Asean.

Marut Buranasetkul of Bio Genetech International Co Ltd, the business developer of biotechnological products with a strong emphasis on bio-pharmaceutical drug development, said: ” BGIC sees opportunities and benefits for the bio-pharmaceutical manufacturing industry in Thailand, which will propel the country to the next level of new economy model. Memorandums of understanding with leading domestic and international educational institutions were signed to support the research and development of bio-pharmaceutical products. BGIC is ready to act as a hub of business creation, to provide industrial and IP services specialised for biotechnology, including IP management, patenting, licence–in & licence-out management, industrial process improvement, operation and construction of green field biotechnology projects as well as technology transfers and localisation”.

The modern medicine market was valued at Bt24 trillion globally, growing 6.5 per cent year-on-year, while the bio-pharmaceutical industry expanded by 13 per cent with Asia accounting for 19 per cent of growth, which is higher than the global average.

The overall market in Thailand is estimated at Bt1.8 billion a year with an annual growth of around 6.5 per cent. Synthetic chemicals lead local sales with a 70 per cent share, followed by biological drugs (30 per cent). However, sales of biological drugs posted a high growth of 16-19 per cent last year and may reach 50 per cent of the local market in 10 years.

Thailand is expected to produce bio-pharmaceuticals through domestic research in the near future.

Marut said BGIC has maintained a vast network of experts in education, government, and private sectors towards the goal of elevating the local bio-pharmaceutical industry to international standard. Recently, a memorandum of cooperation (MoC) was signed with King Mongkut’s University of Technology Thonburi (KMUTT) to develop the Thai bio-pharmaceutical industry and build capacity in supply chain linkage of the pharmaceutical and biopharmaceutical industry, in support of inclusive growth with an eye on the global market.

Following the MoC, a joint venture agreement was signed between KinGen Holdings (KGH) of the BGIC Group and Genexine Inc to establish KinGen Biotech, a contract development and manufacturing organisation of bio-pharmaceutical products. Both parties hold 50 per cent of the joint investment.

KinGen Biotech estimates it would generate a revenue of US$220-250 million between 2019-2026.

Furthermore, another joint venture company, KinGen Laboratory, will be established for the development of bio-pharmaceutical drug candidates . The goal by 2017 is to produce new bio-pharmaceutical drugs for cervical cancer patients, autoimmune patients, HIV-infected people, and hepatitis B virus patients. The estimated market value in 2027 is estimated at more than $1 billion.

In this regard, BGIC is collaborating with the National Bio-pharmaceutical Facility (NBF), which was co-founded in 2014 by KMUTT and the National Science and Technology Development Agency (NSTDA) at King Mongkut’s University of Technology Thonburi (KMUTT) Bangkhuntien Campus. The facility comprises of bio-pharmaceutical manufacturing capabilities including fermentation, cell culture, downstream processing and fill and finish of sterile parenteral drugs under GMP standards.

Marut said the biotechnology industry is growing day by day due to increased acceptance of bio-pharmaceutical drugs as mainstream treatments of severe diseases, as confirmed by sale figures of the world’s top 20 drugs, wherein 13 are of biological sources.

This is a great opportunity for the local pharmaceutical industry, which enjoying support from the government under the framework of Thailand 4.0 initiative and the new S-Curve industry strategy, he added.

It has appointed Bualuang Securities as financial adviser.

The proceeds will be spent on expanding its aquatic-feed business abroad and repaying loans and also serve as a revolving fund.

The company makes and exports food for shrimp and freshwater fish.

It will manage an oil pipeline’s extension to the Northeast, “opening up a new opportunity with good and long-term investment return”, president Jakgrich Pibulpairoj said on Wednesday (September 25).

“EGCO acquired equity shares in TPN, which provides an oil-pipeline transportation service to the Northeast and an oil depot service, from Biggas Technology Co Ltd.

“We earlier acquired 7,739,998 ordinary shares of TPN at Bt100 par value, representing 43 per cent of the total, and have now subscribed another 3,185,000 shares at the same price,” Jakgrich said. “Combined, we have 10,924,998 shares in TPN, or 44.6 per cent of total registered capital after capital increase. The total consideration for the transaction is approximately Bt3 billion.”

The planned oil pipeline – a newly constructed 342.8-kilometre underground line – will connect a Thai Petroleum Pipeline Co (Thappline) depot in Saraburi to TPN’s 142-milion-litre depot in Khon Kaen.

Now under construction with operations due to start in late 2021, it will have a capacity of 5.4 million litres and can be boosted to 7.3 million litres in the future.

“This investment marks EGCO’s further step towards investment in energy-related businesses,” Jakgrich said. “This is a large-scale project with significant importance to the Thai economy.”

Supported by the government, the pipeline will be able to meet increasing demand in the Northeast.

Among the top retail and service businesses in Thailand, Central Group will leverage the Aptos Planning solution to support the full spectrum of its planning processes, including merchandise financial planning, open to buy, allocation and replenishment.

The solution will be deployed across two of Central Group’s subsidiaries: Robinson Plc (Robinson) and CRC Sports Co Ltd. Robinson is a popular department store with 49 shops across Thailand, and a popular shopping destination for clothing, cosmetics, accessories and housewares.

CRC Sports is a top sports retailer and distributor in Thailand with more than 200 stores in the country under the SuperSports multi-brand stores, as well as mono-brand outlets such as Crocs, Skechers and New Balance.

Across both the Robinson and CRC Sports businesses, Aptos Planning will support merchandise activities from strategic planning and budgeting, and planning by attributes, to keeping the financial and open to buy controls firmly in place. As product delivery to the store approaches, the allocation and replenishment capabilities will enable Central Group to optimise in-season merchandise management and inventory levels across products and locations to accommodate shifting market dynamics.

“Modern information technology systems empower Central Group to deliver superior value to our customers and support our position as a leader of multi-format, multi-category retailing in Thailand, Southeast Asia and Europe,” said Tony Morton, president of CRC Sports. “When evaluating merchandise planning applications, it was clear to us that Aptos Planning was the best fit for our business based on the solution’s robust and advanced functionality, Aptos’ laser-focus on the retail market, and the vast planning expertise of the Aptos team.

“As Central Group moves forward on its position as a leader in omnichannel retailing, we required a solution that would allow us to optimally manage merchandise across each of our markets, channels and locations, resulting in an improved buying experience for our customers and more profitable collections for the business. Central Group’s retail success is driven by dominant brands, uniquely talented people and modern retail systems; we feel our investment in Aptos is in line with our commitment to retail systems innovation,” Morton said.

Noel Goggin, the Aptos CEO and culture leader, said, “Central Group has been a powerful contributor in Thailand’s economic development for over 70 years and offers a diverse portfolio of market leading businesses in Southeast Asia.

“With retail sales in Southeast Asia expected to almost double in the next five to six years, there is tremendous opportunity for Central Group to capitalise on its retail sector leadership as it pursues growth both at home and internationally. Aptos is proud to partner with Central Group on its growth and modernisation journey, providing the solid foundation it needs to optimise critical retail planning and merchandising functions.”

It will be the second Dusit-branded hotel set to open in Nepal.

Operating under Dusit’s upper-midscale Dusit Princess brand, the new hotel will comprise 108 well-appointed guest rooms in a prime location in the capital’s vibrant Lazimpat neighbourhood.

The area is home to various international institutions and is just a short walk from the bustling eateries and shops of Thamel.

Tribhuvan International Airport and major cultural attractions such as Kathmandu Durbar Square, Boudhanath Stupa and Swayambhunath Stupa can be reached in 20 minutes by car.

Designed to meet the needs of business and leisure travellers alike, hotel facilities will include an outdoor swimming pool and pool bar, a rooftop lounge-bar, a fully equipped fitness centre, a spa, and meeting facilities. An all-day dining restaurant will serve daily buffet breakfast plus a variety of international and local cuisines.

“We are delighted to partner with Hotel Lhasa International Pvt. Ltd. to bring our unique brand of Thai-inspired gracious hospitality to Kathmandu for the first time,” said Lim Boon Kwee, the chief operating officer for Dusit International.

“Surrounded by popular cultural attractions, centuries-old religious sites, several embassies and major businesses, Dusit Princess Kathmandu is perfectly positioned to link guests with everything this fascinating city has to offer. We now look forward to delivering a hotel experience that delights on all fronts while providing sustainable value to all our stakeholders.”

Dorje Gyaltsen Lama, the managing director of Hotel Lhasa International Pvt Ltd, said, “Nepal welcomed more than 1.1 million tourists in 2018 – up 25 per cent year over year – and the country’s tourism industry just keeps going from strength to strength. To capture this fast-growing market, we were determined to find a distinctive partner with international experience, a track record for excellence, and a commitment to having a positive local impact. We are delighted Dusit is that partner, and we look forward to a long and prosperous relationship together.”

Dusit International’s property portfolio now comprises 271 properties (nine owned and 262 managed) operating under six brands across 13 countries. The company has more than 50-Dusit branded hotels in the pipeline and expects to open at least 10 to 12 hotels per year in key destinations from 2020 onwards.

Dusit Princess Kathmandu, Nepal is the second property Dusit International has signed to operate in Nepal. Dusit Thani Himalayan Resort & Spa, a luxury mountaintop resort in Nepal’s central region, is slated to open in the first quarter of 2021 under a hotel management agreement.

NYCA was ranked as the third most active financial technology (fintech) VC fund by CB Insights in 2018. The fund brought in investment of US$210 million from a global network of 21 institutional investors and notable figures in fintech and financial services industry.

Founded in 2014 by former president of Visa, Hans Morris, NYCA invests in companies where technology creates a distinct competitive advantage in financial services spanning banking, payments and investing to insurance. NYCA is well-known for its hands-on approach. Over the past five years, NYCA Partners has assembled a group of 55 advisers who help in analyzing prospective investments and provide deep assistance and expert advice to their portfolio companies to help entrepreneurs become more successful.

Speaking at the recent launch, Beacon VC’s managing director Thanapong Na Ranong said that the investment marked the company’s first investment outside of Southeast Asia.  “NYCA is led by a team of former C-level executives from major financial institutions, including J. Morgan, Citibank, Goldman Sachs, BlackRock, and Visa. We are impressed with the team’s ability to leverage their financial services experience to select and invest in companies that complement the existing financial infrastructure. Through the collaboration, we will bring innovation from Fintech worldwide to Thailand, insights from NYCA’s global network of investors and advisers to KBANK, and portfolio management best practices from NYCA to Beacon VC,” he said.

“NYCA is delighted to collaborate with Beacon VC to bring leading fintech companies from around the world to Thailand. We meet innovators in all stages of early growth, and we are eager to unearth the next disruptor in all the many corners of financial services. By connecting our knowledgeable investors and advisoers with fintech entrepreneurs, we aim to create a symbiotic relationship that enables a more efficient and empowering financial system for all of us,” Morris added.

NYCA is the fourth VC fund investment made by Beacon VC, following Southeast Asia-based fintech fund Dymon Asia Ventures, Singapore-based growth-stage fund Vertex Ventures, and Thailand-based education technology accelerator StormBreaker Venture. Additionally, Beacon VC has actively made direct investments in startups across Southeast Asia, including Southeast Asia’s fast-growing neobank application Aspire Financial Technologies, global cross-border payment company InstaReM, and ride-hailing and financial services unicorn Grab.

Beacon Venture Capital founded in 2017. It is a wholly-owned corporate venture capital fund of Kasikornbank and focuses on strategic investments in early to growth-stage technology startups covering not only fintech, but also consumer internet and enterprise technology. Currently, Beacon VC has a fund size of $135 million and has invested in notable technology startups such as Aspire Financial Technologies, InstaReM, and Grab.

NYCA Partners is a leading venture capital fund focused on connecting innovative companies to the global financial system. NYCA’s rich experience and deep connections in both finance and technology give it a unique perspective and facility to help entrepreneurs transform payments, credit models, digital advice, and financial infrastructure. NYCA strives to form truly collaborative partnerships, offering capital and expert advice. Some of NYCA’s notable investments include a consumer credit unicorn Affirm, a micro-investing application Acorns, and a business payment and credit network Fundbox.