K-Sure can offer a credit of up to US$1 billion should SCG need to obtain a loan from commercial banks to buy equipment from Korean manufacturers. K-Sure is willing to provide opportunities for SCG to join trade negotiations at its annual Vendor Fair, SCG’s chief executive Roongrote Rangsiyopash told reporters.

The country’s largest mortgage lender, the Government Housing Bank (GHB), plans to raise Bt30 billion by issuing lottery-linked deposit accounts next month worth Bt10 million each.

The bank will target 3,000 clients by inviting them to open prize-linked savings accounts, the bank’s president Chatchai Sirilai said.

This is the second prize-linked account launch this year, after the bank successfully raised Bt27 billion by issuing the first batch of lottery-linked accounts worth Bt1 million each, he said.

The third batch worth Bt50 billion will be launched in the first quarter of 2020, with each deposit worth Bt50,000.

For next month’s fund raising, potential depositors will include individuals, corporate and investment funds, he said.

The two-year deposit will yield an interest of 1.1 to 1.25 per cent, though depositors will have a chance to win big prizes. The bank will offer three additional prizes worth Bt3 million each in every quarter of the year.

To make this deposit special, the bank will have savings account books covered in a thin sheet of gold.

On the lending side, the GHB has so far lent up to Bt139 billion as of September 20 or 66.4 per cent of its new lending target of Bt203 billion.

The latest popular loan scheme carries a fixed interest rate of 2.77 per cent per annum for the first three years of the mortgage contract.

He said the bank is expected to achieve its lending target this year, though he added, GHB will not reduce its lending rate even if the central bank lowers its policy rate again by the end of this year. He added that if the Bank of Thailand does reduce its policy rate again this year, GHB may lower its lending rate next year.

Pairote Cheunkrut, head of Krungsri Auto Group, Bank of Ayudhya Pcl, says: ” we are Thailand’s first auto finance service provider to offer the E-Consent service through the connection with loan-related database of other organisations”.

Krungsri Auto’s E-Consent system replaces the conventional information disclosure process that required customers to fill in consent forms, which would then be sent to bank branches for verification.

With the new system, a customer can simply present his/her identity card to a Krungsri Auto official for insertion into the card reader that is connected to Krungsri Auto application on a digital platform.

The officer will then take photos of the applicant and the loan application to verify the customer’s identities. Finally, a one-time password (OTP) will be sent to the customer via SMS, to enter and confirm the request.

The E-Consent service has been available since early September and has increased efficiency in the credit disclosure process by as much as 80 per cent.

The E-Consent service brings considerable benefits to customers, Pairote said, adding: ” It is accurate, secure and fast. The system automatically reads information on the front of a customer’ identity card and fill in the online consent form for information disclosure. Therefore, we have reduced the risks of human errors, which could cause delays.

“Besides, the E-Consent service helps prevent document theft or forgery for illicit transactions because the system also cross-checks with the Department of Provincial Administration’s database to verify the validity of identity cards used to apply for loans.

“In addition, customers are required to input the OTPs and confirm the information disclosure by themselves. Moreover, with its real-time operational capacity, the E-Consent service enables instant examination of customers’ information”.

To provide customers greater convenience and a seamless booking experience, Scoot currently offers a comprehensive range of payment options across its network of 67 cities in 17 countries and territories. This includes global payment methods such as Apple Pay, Credit Card (American Express, JCB, MasterCard, UnionPay, Visa), Google Pay and PayPal while local payment methods comprise AXS and PayNow for customers in Singapore, POLi in Australia, WeChat Pay and Alipay in China, DragonPay  in the Philippines, Konbini  in Japan, and Momo for customers in Vietnam.

The evolution of payment systems over the years, driven by technological improvements, has helped to significantly defray the associated costs required to support and maintain the payment infrastructure. From March 2018, Scoot has progressively removed payment processing fees in selected markets, beginning with Europe.

More recently, in August 2019, the fees for selected local payment methods including AXS (for customers in Singapore) and Konbini (for customers in Japan), were removed. Momo, an e-wallet and mobile payment app launched in end August 2019 for customers in Vietnam, also has no payment processing fees.

Lee Lik Hsin, Scoot’s Chief Executive Officer, said, “When Scoot first started, we offered a limited range of payment methods at a higher implementation and maintenance cost. As we expanded globally and heard our customers’ feedback, we took advantage of advances in payment technology to implement many other payment methods to improve our customers’ experience. In order to pass on the savings to our passengers as our costs came down, we have since March 2018 progressively removed payment processing fees in selected markets. Now, we are ready to do away with it globally. We hope this gives our customers better value and more reasons to fly with us”.

The  upcoming properties are the 400-room Amari Jomtien Pattaya, 250-room Shama Wongamat Pattaya and 123-room OZO Pratumnak Pattaya, scheduled to open between 2022 and 2025.

Amari Jomtien Pattaya will occupy a mixed-use beachfront site in Na Jomtien towards the south of Pattaya city, with direct access to a community retail mall. Located in a 30-storey tower with contemporary Thai-inspired design, this hotel will offer all the signatures of Amari including the market-inspired Amaya Food Gallery, Breeze Spa with treatments featuring iconic local botanicals, and service from Amari Hosts. Other facilities include a specialty restaurant, executive floor and lounge, and beach club. Scheduled to open in 2024, the hotel will also offer extensive events and meetings facilities, including a ballroom for up to 1,000 persons in cocktail-style and supported by a variety of smaller function rooms.

Shama Wongamat Pattaya, located by the sea in North Pattaya, will feature 250 residential-style units in studio, one-bedroom and two-bedroom apartment configurations. The property will feature an all-day dining restaurant complemented by a guest lounge, pool, garden and gym. The property will also benefit from key Shama signatures including allocated housekeepers for residents on longer leases, and the brand-wide ‘no boundaries’ lifestyle programme offering orientation ‘hood tours’ to familiarise guests with the local culture, nearby lifestyle venues and amenities, activities which connect residents within the friendly community, and recommendations to the hidden gems of the area. Shama Wongamat Pattaya will open in 2025.

OZO Pratumnak Pattaya will open in 2022 as a 123-room hotel designed to offer a buzzy and zesty ambiance in the public areas, and peace and quiet upstairs. Built to help savvy travellers sleep, connect and explore the best of the immediate area, all guest rooms will highlight the essence of the locality with a signature feature wall inspired by a nearby landmark, functional layouts and distinct space for getting prepared, snoozing and relaxing as well as staying connected.

Douglas Martell, the group’s President and Chief Executive Officer said: “Pattaya is the birth place of ONYX Hospitality Group’s growth story, where our first hotel was launched close to half a century ago. It is with great excitement that we expand our reach in this key Thai destination, with all three of our core brands being represented in this partnership with Ratanakorn Asset. As Thailand’s east coast evolves to become the leading destination for both international and domestic travel with planned enhancements to the road, rail and air infrastructure in the Eastern Economic Corridor, we look forward to being one of the hospitality players in this growing region.”

Jugkarut Ruangratanakorn, Managing Director of  Ratanakorn Asset Co Ltd, said: “As a major investor in hospitality with an active pipeline of hotel and serviced apartment projects with leading international and regional operators, we are committed to expanding our portfolio in the fast developing Eastern Economic Corridor. We have witnessed and admired the expansion of ONYX Hospitality Group across Thailand and the Asia-Pacific region, and look forward to working with them in bringing the brand propositions of Amari, Shama and OZO to life with the opening of these upcoming properties in Pattaya”.

Based in Bangkok, ONYX Hospitality Group has a growing regional portfolio of close to 50 operating hotels across three core brands in eight countries. The group has a robust development pipeline of close to 30 new properties in markets such as China, Malaysia and Australia, and has set a target of having 99 hotels open by 2024 as part of its journey towards being the best medium-sized hospitality player in the region.

ExxonMobil plans to set up the new factory on the site on condition that it is within a radius of 5 kilometres from the company’s oil refinery in Sriracha. If the Thai government cannot find 1,000 rai for the expansion project by this year, Esso is likely to invest instead in China or Vietnam.

The company said it aims to revise its global investment plans at the beginning of 2020. And if Thai officials don’t have a clear policy of reclaiming the land near the Esso port, the company will have to decide to move to a new country, it added.

Under the deadline set by Exxon, the Industrial Estate Authority of Thailand – which is responsible for inspecting land reclamation in such areas – employed the Petroleum Institute of Thailand to conduct a study at the beginning of September on the possibility of reclaiming the land. However, it appears the study will not be completed on time as it is expected to take six months, excluding the time needed to write an Environmental and Health Impact Assessment report.

Moreover, Esso’s oil refinery surroundings are crowded, making it hard to find such a large area to meet Exxon’s demand.

With the acquisition, NTT DATA, a leading IT service provider and the parent company of NTT DATA Asia Pacific Pte Ltd, will enhance its market position in Thailand with significantly strengthened capabilities in customer relationship management (CRM), customer experience (CX) and analytics solutions.

“We are very excited to welcome the talented Locus team to NTT DATA,” said Ken Tsuchihashi, president and CEO of NTT DATA Asia Pacific .“I’m confident that they will accelerate our ability to support customers in their digital transformation journeys. Through collaboration with Locus and other NTT group entities, we expect to become a top provider of IT solutions and services in Thailand within a few years.”

Locus, founded 20 years ago, is a leading provider of systems integration (SI) services in Thailand, specialising in digital-enablement solutions for CRM/CX, loyalty programme management, business intelligence, data-analytics solutions and enterprise mobility.

Staffed with 150 professional IT consultants, business analysts and system developers, the company has successfully served over 100 clients in industries including banking, insurance, telecommunication, retail, healthcare, manufacturing and utilities.

“Access to NTT DATA’s depth and breadth of service offerings and innovative global technologies will enable Locus to evolve from a niche player into a more comprehensive business-solutions provider,” said Locus CEO Andrew Yim. “NTT DATA will both strengthen our core business and help us accelerate our expansion into big data, artificial intelligence and enterprise resource planning practices.”

NTT DATA, in addition to accelerating its digital consulting and delivery capabilities in Thailand, expects to create opportunities with Locus for cross-selling to clients in fields such as banking, insurance, manufacturing, retail and utilities.

NTT DATA is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 50 countries.