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https://www.nationthailand.com/business/pr-news/40019518

Thailand is one of the most exciting and fastest-growing retail markets in Southeast Asia, having been an early adopter of new trends driven by digital-first consumers, which has contributed to rapid e-commerce growth in recent years.

The mobile commerce market, led by mobile applications, is expected to grow at a compound annual growth rate of 12% to $25 billion by 20231. From travel to consumer electronics or fashion, a diverse range of online retailers is constantly identifying key profitability drivers while keeping offerings and payment options appealing and convenient for their customers.  

Financing at Point of Sale, a service also known as “Buy Now Pay Later (BNPL)” has grown in popularity as a win-win proposition for both retailers and customers. It not only helps in increasing revenue, but it also allows consumers to access goods they would not be able to afford otherwise.

This new financing option has been thriving in Thailand, and prospects show that it is here to stay: the country’s BNPL Gross Merchandise Value is expected to reach US$ 15,818.1 million by 2028 (up from US$ 893.1 million in 2021)2. Now financial institutions must decide whether to join the BNPL herd with their own offerings or risk being left behind. 

The secret formula behind BNPL 

BNPL is a type of short-term financing that allows customers to buy products and pay for them in the future, at zero or low interest. Repayment terms vary depending on the BNPL provider, but typically include payment in full by the end of the month, pay-in-3 (three equal monthly payments) or pay-in-4 (four equal biweekly payments).  

This financing option is fast, convenient, flexible, and democratic. It is especially beneficial to young consumers who are digitally savvy and with limited financial resources (entry-level jobbers or students) or those who do not have a bank account or do not qualify for credit or loans. They feel they do not need to access credit with BNPL; they simply defer payment. Additionally, they are also given the ability to try out a product at no expense at the time of purchase. 

BNPL has numerous advantages for retailers and merchants. Those who included this financing option in their business strategy saw higher sales conversions and larger basket sizes. 41% of global consumers are more likely to buy in a store that offers BNPL and many are already benefiting. As an example, after introducing Klarna, one of the leading BNPL-focused fintech to its store, the UK fashion retailer Hype saw a 38% increase in online conversions3. 

It’s now up to Thai banks 

Fintechs were the first to champion BNPL, particularly through mobile apps or collaborations with online platforms to provide this type of embedded finance (which is the seamless integration of financial services adopted by non-financial companies).  

Covid, the e-commerce boom, and economic pressure, on the other hand, have transformed BNPL into a growth engine for e-commerce businesses and lenders, including banks. While a handful of Thai banks are exploring BNPL solutions, the rest may lose out if they do not act fast: according to research, BNPL fintechs have already diverted US$ 8-10 billion of annual revenue away from banks globally4. This does not have to be the case, as 70% of BNPL users would be willing to use BNPL offerings from their banks if they were available5. 

With the massive potential for continued growth, Thai banks must approach BNPL strategically and decide whether and how they will play a role in this new business line. Making it part of their offering will be critical, as BNPL is rapidly eclipsing traditional consumer finance models, such as bank credit or personal loans, and even, in some cases, debit cards. BNPL will allow banks to improve their merchant relationships and value proposition, allowing them to capture a greater share of wallets through cross selling and customer acquisition.  

The future is composable 

Banks and retailers seeking to introduce BNPL offerings should choose partners which give them a head-start by leveraging their flexible technology solutions and domain expertise. Mambu enables its customers to build an end2end BNPL solution in a few weeks using Mambu’s core product engines in combination with a composable framework for integrating best-for-purpose third-party providers. Mambu provides its customers with the technology to quickly and easily access financial products. 

By Pham Quang Minh, General Manager at Mambu Thailand 

Published : August 30, 2022

Patra Pamornmontri, representative of the younger generation, recently submitted an open letter of complaint to Office of the Ombudsman, urging it to investigate the National Broadcasting and Telecommunications Commission (NBTC) for potentially favouring the True-Dtac merger with game of interference from the executive branch.

Patra submitted a letter of complaint about the work of NBTC and its associates to the Ombudsman, to investigate and discover fault. It appears there is intention to assist a private company, from the case of NBTC preparing a document for the Prime Minister for the Council of State to consider NBTC’s powers in considering the merger of True and Dtac for the second time. This shows the intention and attempt to resist performing its duty as an independent organization under the Constitution. There is an attempt to bring in the executive branch to interfere and control the use of power by NBTC, which is clearly in conflict with the Constitution.

Patra said, “In the case of the announced True-Dtac merger, which is being closely observed by every sector, there are concerns about the impacts to consumers. Meanwhile, NBTC, an independent organization under Section 60 of the Constitution, must safeguard the interests of the general public and the nation at large. Instead, it has shown that it has not performed its duties as it ought to have done. It has rather focused on the interests of operators with no clear consideration for consumers. The latest case follows on from NBTC preparing a document for the council of state on 12 May 2022 to consult on its powers to consider approval or disapproval of the merger, of which the board of the Council of State has already replied to NBTC on 27 July 2022 that it could not accept this topic for consideration, as it was a matter which was the subject of litigation in the courts. However, on 25 August, there was another document for the Prime Minister to order the Council of State to consider NBTC’s powers and obligations in the case of the business merger of True and Dtac on a second occasion. This action was in conflict with Section 60 of the Constitution, and would result in debasement of the office of Prime Minister and the risk of actions in violation of the law.”  

“Having another question for the Council of State on this occasion has the intention that NBTC will not perform its duties. As for NBTC’s powers, practically speaking, the Prime Minister has no power to order the Council of State to use an exception clause to consider this matter. This is because this matter is about the specific legal duties and powers of NBTC, the party legally empowered to issue announcements of consultation, which are not announcements of the executive branch. NBTC is not a body affiliated to or regulated by the executive branch. The Prime Minister has powers over the Council of State as an advisor to the executive branch, to issue an opinion of suggestions or advice. Therefore, it is not possible to issue an order to the Council of State for judgement on an exception to regulations. NBTC must judge for itself and decide the issue for itself, just as it has previously interpreted the law and other announcements by itself. Therefore, it can be considered that NBTC is trying to bring in the executive branch to support it legally, without performing its own duties.”

Patra reiterated, “Submitting this letter to the Ombudsman on this occasion is a plea for the Office of the Ombudsman, which is obligated to oversee the work processes of state agencies to be in compliance with the law and regulations, and ensure transparency and good governance of the nation. The Ombudsman is asked to conduct an inspection and consider processes concerning NBTC, subcommittees or NBTC’s own personnel having the opinion to inquire on that issue with the Council of State on the second occasion through the Prime Minister. It is asked to consider whether this is a case of not acting in compliance with the law, or acting outside its legal powers, with the intention to favor telecom operators illicitly. If an investigation finds that it is according to this complaint, they are requested to send the matter to the bodies with the obligations and powers to find blame.”

Published : August 30, 2022

By : THE NATION

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https://www.nationthailand.com/business/pr-news/40019501

It is highlighting clean energy from solar floating and comprehensive public utilities to attract investors to Eastern Economic Corridor (EEC)

Banpu NEXT and Apex Park, the developer of the Apex Green Industrial Estate, join forces to transform the Apex Green Industrial Estate into a smart industrial estate with a goal to become a model for low-carbon and sustainable industrial estate that creates all-round value for itself, entrepreneurs, communities, and the environment.

The industrial estate is set to have solar floating as a source of clean energy which is purchasable for business purposes.

The solar floating project is expected to reduce electricity costs and optimize energy efficiency as well as provide world-class technology and infrastructure with a strength of the EEC strategic location.

Located in the strategic area of the Eastern Economic Corridor (EEC) in Chachoengsao province, the Apex Green Industrial Estate is considered a perfect location for investment from modern industries including the S-Curve and the New S-Curve such as metal products, machinery, and logistic equipment manufacturing; electronics and electric appliances manufacturing; sporting and toy product manufacturing; and logistic service centre — all require appropriate pollution, contamination and waste protection and control protocols so that the environment and communities are not affected.

With the development within the industrial estate now underway, Apex Green Industrial Estate will have a wide variety of ready-built factories and warehouses with internationally-recognized technology and public utilities, a smart city management system, convenient transportation system, eco-friendly, and surrounding communities; with the highlight being the installation of large-scale solar floating by Banpu NEXT with an expected total production capacity of 32 megawatts.

Nattapakorn Damnoenchanwanich, Chief Executive Officer of Apex Park Co., Ltd., said, “One of the company’s key commitments for the development of the industrial estate is to do the business while living harmoniously and sustainably with the community and the environment. As a result, we have incorporated the eco and smart industrial estate concept into the development of Apex Green Industrial Estate. Also, the company is getting ready for the installation of large-scale solar floating over a 200-rai pond. Once the installation is complete, entrepreneurs will be allowed to purchase electricity from us which will help save up to 18%* of their electricity costs and will create a long-term value for money for investors here” 

Moreover, businesses can expand their Carbon Credit portfolio which will help promote their image as a Smart businesses in response to the global megatrend.

Furthermore, Apex Park Industrial Estate also joins the Industrial Estate Authority of Thailand’s project where entrepreneurs will be entitled to various privileges in terms of tax and other benefits.

Special rates will also be offered to businesses interested in booking the area within this year.

“With our determination to create a long-term value for businesses and the surrounding environment, the company had been looking for a partner that could respond to all our requirements. One of the main reasons why we trust Banpu NEXT is their expertise and experiences in the clean energy and energy technology business, ” he added.

Banpu NEXT is also an expert in solar installations with leading customers’ portfolios across Asia-Pacific. The large solar floating project in Rayong province is a pilot project which enables the company to fully realize the benefits of using clean energy in response to the need of entrepreneurs within the industrial estate.

” We also have a plan to incorporate Banpu NEXT’s solar system into more of our businesses under Apex Park in the future.”

Sinon Vongkusolkit, Chief Executive Officer of Banpu NEXT Co., Ltd., said, “Banpu NEXT is determined to provide Smart Energy Solutions for Sustainability that meet customers’ needs and continue to promote the development of smart cities. We are extremely delighted we are trusted and appointed by Apex Park to install solar floating within the Apex Green Industrial Estate. “

This collaboration aims significantly to drive the Apex Green Industrial Estate to become a smart industrial estate which is in line with the Industrial Estate Authority of Thailand’s guidelines and in response to the mega trend in business and industry sustainable development (SD) and the Environmental, Social, Governance (ESG) principle practised by businesses all around the world. Such a collaborative effort is also to create the future of sustainable energy for Thailand based on Banpu’s Greener & Smarter strategy.

“Our commitment in sustainability and space management for best benefits is incorporated into the design of the solar system which is ready to provide a total solutions service. The pond within the industrial estate is transformed into a clean energy source which creates more value yet does not affect the underwater ecology. “

The floats and the panel system are made flexible and resistant to water-wave or wind vibration. The solar panels are of high quality, able to produce high and stable electricity, resistant to humidity and erosion and safe. The distance between panels is also thoroughly calculated.

The digital platform and dashboard are also installed to allow the industrial estate to monitor the water quality, the water level, and the operation of the solar system in real-time 24/7. A team of experts are also on hand to provide advice as needed.

“We believe the solar floating project in the Apex Green Industrial Estate will be able to provide great value and sustainable growth for the customer’s business, society, and environment and will at the same time contribute to the betterment of life of people in the communities.”

Throughout the 20-year solar panel contract, the industrial estate is expected to reduce CO2 emissions by approximately 500,000 tons. The project will also help strengthen the renewable energy and energy technology businesses. Apart from the installation of solar floating.

” We also plan to implement other Smart Energy Solutions such as an EV fleet management platform, energy management system and smart safety platform in the industrial estate and other businesses under Apex Park so that they become Smart Business in the future,” Sinon concluded.

Published : August 29, 2022

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https://www.nationthailand.com/business/pr-news/40019499

FWD Life Insurance Plc’s, “Braille Stories” campaign won the Gold Award at the 2022 New York Festivals Advertising Awards. It is the only life insurance company from Thailand to receive the Award for the OUTDOOR/TRANSIT/OUT OF HOME category.

“Braille Stories” is a series of braille-written poster portraits depicting the fascinating and empowering lives of four visually impaired individuals.

Each featured person puts in considerable effort to succeed in their path and live their life to the fullest, without boundaries.

Everyone can touch and scan the QR codes to see and hear these stories in each featured person’s own words.

All of these works were displayed in out-of-home media, such as posters and table wraps, to communicate and inspire people who may feel left out.

These works were featured at places like the Bangkok School for the Blind, the Foundation for the Blind in Thailand, or the Lighthouse Center for the Blind.

The New York Festivals® Advertising Awards is one of the most prestigious awards in the advertising industry.

Creative, advertising and marketing professionals from around the world were invited to submit their work to be judged for excellence in execution, craft, and creativity.

More than 400 entries from 60 different countries were received in 2022 and they were carefully evaluated by world-class juries and industry peers.

The concept of employing “braille letters” to communicate with individuals was to let people with visual impairment know that they can be covered by insurance, as many can be sceptical about insurance companies being truly inclusive.

The campaign was made to be simple and accessible as FWD believes that everyone deserves to celebrate living.

Pavarisa Chumvigrant, Chief Branding and Communications Officer of FWD Life Insurance said, “We are delighted and honoured that our “Braille Stories” campaign has won the world-renowned advertising award.” Under the “Insurance For All” brand campaign, our goal is to raise awareness of equality in society and let them know that FWD is inclusive and is providing comprehensive cover for everyone.

Winning this prestigious award in this prominent international advertising award highlights the effectiveness of FWD Life Insurance’s customer-led strategy in getting individuals to rethink how inclusive life insurance can be.

FWD are ready to support everyone in society with care, no matter what challenges they may face in life, as FWD is “insurance for everyone” while FWD are empowering them to live life to the fullest. 

“Insurance For All’s brand campaign was launched because FWD wants to let the disabled community know they are eligible to get life insurance too. It also aims to inspire everyone to contribute to society’s well-being, live joyfully and optimistically, and surround themselves with lots of positive energy so that everyone, including their loved ones, can “Celebrate living” each day and live life to the fullest, knowing that FWD’s always got their backs,” Pavarisa concluded.

Published : August 29, 2022

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https://www.nationthailand.com/business/pr-news/40019497

The developer ” Sansiri ” plans to join forces with 10 partners to form R&D Team to develop Thailand’s first ever “Net-zero Home” 

Uthai Uthaisangsuk, Chief Operating Officer (COO) of Sansiri Public Company Limited (SET: SIRI), revealed that after his company had announced its commitment to be the first real estate developer in Thailand to set a net-zero goal for greenhouse gas emissions, Sansiri has changed the way it operates to meet this goal and mitigate the pressing global issue of climate change.

According to the Climate Watch data, the top-emitting sectors in Thailand were the energy sector, which accounted for 61.11% of emissions; the industrial sector, 16.67%; the agricultural sector, 15.96%; and the forestry and land development sector, 3.31%.

Although the real-estate sector was not named a top-emitting sector, its value chain still contributes to emissions and the subsequential change in the climate.

According to a study, Sansiri emits a total of 229,486 metric tons of carbon dioxide equivalent (MtCO2e) per year, but only 4,939.74 MtCO2e  or 2.2% of which comes from its corporate activities.

This last figure can be further divided into 0.2% under Scope 1 direct emissions from the use of fossil fuels in Sansiri’s corporate activities and 2% under Scope 2 indirect emissions from the generation energy used by Sansiri in its corporate activities.

Meanwhile, its indirect emissions from sources throughout the entire value chain or Scope 3 account for 224,547.24 MtCO2e per year or 97.8%.

This figure can be broken down into 55% from the projections of customers’ electricity consumption in the next 60 years, 29% from building material procurement, 2% from suppliers’ transport, and 14% from other sources.

Uthai also explained that Sansiri plans to reduce its direct emissions under Scopes 1 and 2 by 20% by 2025 and under Scopes 1, 2 and 3 by 50% by 2033.

The developer hopes to achieve its ultimate net-zero goal by 2050 through the following three strategies:

·       Strategy 1: Become a low-carbon organisation. Sansiri will focus on energy saving and efficiency by upgrading to 100% clean energy by 2025.

The company plans to install solar roofs and electronic vehicle (EV) chargers for every Sansiri home in every segment; have a solar roof installed at every clubhouse of every new Sansiri development; have a solar water treatment pump will be installed at the central wastewater management plant of every development; switch company vehicles to 100% EVs; and use biodiesel for every piece of machinery.  

·       Strategy 2: Implement carbon-reducing policies throughout the entire value chain. The following three Gs will be implemented:

o   Green Procurement Sansir will select suppliers who are attentive to sustainable production processes, plan to reduce their energy and water consumption in production and in the long run, use eco-friendly materials, and focus on circular economy principles.

Additionally, Sansiri has committed to 30% of the materials procured being certified low carbon by 2025.

o   Green Architecture and Design Sustainability will play a central role in Sansiri’s architecture and design — including “Cooliving Designed Home” to reduce energy consumption, zero-waste design to reduce construction waste, and universal design to cater to residents of all ages.

Residents’ well-being will also be considered. Cleanliness and good air quality will be taken into account.

o   Green Construction Sansiri will construct and develop properties without wasting materials unnecessarily and use innovation to reduce construction as much as possible and generate as little waste as possible.

·       Strategy 3: Invest in green technologies. Sansiri will invest in environmentally friendly companies involved in clean energy technologies and construction technologies. It has set aside a budget of THB500 million for this purpose and has already invested roughly THB120 million in three companies.

Sansiri is confident that it will be able to reduce emissions under Scopes 1 and 2 (from activities under its control) to zero in the near future. To sustainably mitigate the threat of climate change, the entire value chain needs to act.

To this end, Sansiri join hands with 10 partners to form a research and development team to build Thailand’s first net-zero home by 2050 — including Sharge Management Co., Ltd., a full-service EV charging solution provider, and ION Energy Co., Ltd., a developer of integrated solar energy solutions. The team’s short- and medium-term goals are to develop a low-energy home by 2023 and a low-carbon home with 30% fewer emissions by 2030.

The team is currently researching future trends and innovations for sustainable living, such as using artificial intelligence (AI) to calculate energy savings, using fibre instead of rebar in construction, innovative precast construction with zero carbon and waste, and solar roofs that generate more electricity and batteries to store the energy generated for use at night, solar roof tiles, solar power exchange between households, 100% electric gardens, and innovative electric car chargers.

“Sansiri is committed to reducing all forms of emissions in the most comprehensive way, especially from our residences and suppliers. This is challenging and unprecedented. If we are successful, more organisations will want to work together to tackle this issue of emissions. Reducing emissions at the household level is not only environmentally friendly but will also promote understanding and encourage homeowners to care more about the environment. A movement at this micro level can lead to a larger scale change, such as in the workplace or other areas of society. It will benefit the environment in the long run and combat climate change in the most effective manner,” concluded Sansiri’s COO.
 

Published : August 29, 2022

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https://www.nationthailand.com/pr-news/business/pr-news/40019480

MFU Wellness Center and FUJIFILM bring medical innovation to give TB screening to people in remote areas of Chiang Rai with aim of reducing limitations to basic healthcare services.

MFU Wellness Center and FUJIFILM forge partnership in conducting physical checkup in remote area of Chiang Rai, including Ban Laolew and Ban Pangmahan with the aim of promoting proactive tuberculosis screening and reducing limitations to basic healthcare services among locals, hill tribes and stateless minorities.

Ban Laolew and Ban Pangmahan are the geographically remote communities in Chiang Rai where are located uphill and almost hundred kilometers away from the city center. The locals encountered difficulty in accessing to healthcare services and never had a chance to take X-ray due mainly to X-ray van inaccessibility. Moreover, it was reported that 67 tuberculosis patients were found in Mae Fah Luang, Chiang Rai in 2021 with 8.95 per cent of mortality rate per annum. For this reason, the collaborative partnership between MFU Wellness Center and FUJIFILM is established to tackle this issue through the integration of MFU Wellness Center’s holistic healthcare services, ranging from basic healthcare to complicated medical surgeries, and FUJIFILM’s medical innovation, FDR Xair, the portable X-ray unit with capability to X-ray bedridden patients.

In this event, there was a total of 550 people who had registered for the checkup and 147 cases were detected to develop pulmonary-related condition and were given appointments for treatment in the next step.
 

Assoc. Prof. Chayaporn Wattanasiri, Ph.D., President of Mae Fah Luang University, said “Mae Fah Luang University was established by the name of the mother of King Rama IX, Her Royal Highness Princess Srinagarindra, who was lovingly known to her subjects as Mae Fah Luang. HRH Princess Srinagarindra lavished her attention upon overall health and well-being of her subjects that contributed to the foundation of MFU Wellness Center for providing people with basic healthcare services which prevent people from getting sick and reduce the burden on national health expenditure. To maintain one’s good health, MFU Wellness Center is strongly oriented towards education and prevention rather than treatment as in our mission to achieving sustainable healthcare.”

Asst. Prof. Thawatchai Aphidechakul, Dr.P.H., Acting Director of MFU Wellness Center, Mae Fah Luang University, added “MFU Wellness center operates its services through 3P strategy: Prediction, Prevention and Promotion, which heavily emphasizes on people who face difficulty in getting medical services. Previously, we came across obstacles to providing mobile checkup and reaching out to TB patients in remote areas as the equipment that we have cannot be relocated into the areas. So, the physical checkup under the collaboration of MFU Wellness Center and FUJIFILM, that offers medical equipment support, has allowed medical professionals to provide diagnosis, basic healthcare services, and treatment for people with proper care.

Mr. Yuto Kumagai, Assistant to Managing Director, FUJIFILM (Thailand) Ltd., stated “As a responsible corporate citizen, Fujifilm is firmly committed to solve social issues in all dimensions, especially health inequality. To solve the abovementioned issue, we continuously create and develop our medical innovations and technologies which cover three key health aspects: Prevention, Diagnosis, and Treatment. In this mobile checkup, we understand the limitation to accessing remote areas, so we bring our medical imaging solution, FDR Xair, to support medical professionals in this physical checkup, contributing to relieving burdens on the medical staff.” [FDR Xair is a compact and portable X-ray unit with only 3.5 kilos in weight. It is suitable for bedridden patient X-ray and mobile checkup in the remote areas where X-ray van cannot access. The X-ray unit gives safe and sufficient radiation dose as recommended by WHO. In addition, the FDR Xair is equipped with AI technology which could transfer X-ray images onto computer and locate lung abnormalities rapidly and accurately.]

Fujifilm always places strong emphasis on solving social issues, especially health issue that affects not only on individual, but creates negative impacts to the wider society. In 2021, Fujifilm launched its new corporate campaign “NEVER STOP” that reinforces its commitment to never stop creating wide range innovations and technologies that allow people to live a healthier life and create new values, given back to society.

Published : August 29, 2022

By : THE NATION

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https://www.nationthailand.com/pr-news/business/pr-news/40019470

At the 2022 Annual General Meeting of the Provincial Press Association of Thailand (57th PPAT), Mr Thongdee Paso, Managing Director of Ajinomoto (Thailand) Co Ltd received an honorary plaque as ‘The Outstanding Supporter’ in the category of company who contributes to Thai society and local community.

The award was presented by Mr Thana Cheeravinij, Secretary to the Minister of Agriculture and Cooperatives, while the event was honorably presided over by Mr Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce at The Emerald Hotel, Bangkok.

In this regard, Ajinomoto also promoted the education of children of journalists under the Provincial Press Association of Thailand by continuously supporting its education fund for the 14th consecutive year. 

Published : August 29, 2022

By : THE NATION