The bank’s net profit in the first half stands at Bt6.03 billion, he said. This covers 67,248 loans, of which 45,682 are mortgages taken by the lower- and middle-income market for homes priced at no more than Bt2 million per unit.

As of June 30, the bank’s outstanding loans stood at Bt1.14 trillion.

The bank managed to maintain its new loan target of Bt203 billion for the entire year by focusing on the lower-income market with the campaign of providing 1 million homes, while other mortgage loans stood at Bt106.45 billion as of the end of July 2019.

Its non-performing loans stand at 4.68 per cent of total outstanding loans at the end of June or up 0.51 per cent from 4.17 per cent at the end of last year.

AOT initially announced it was targeting 5-per-cent tourism growth this year, but the number of arrivals in the Kingdom has been disappointing over the past seven months.

“From January, we have only seen a 1.5 per cent growth in passengers compared to the same period last year,” said AOT president Nitinai Sirismatthakarn.

Though he believes the last quarter of this year will be stronger due to the low base of last year’s fourth quarter, he admits that the 6 per cent target growth may be a bit unrealistic.

“Last year’s Phuket boating accident lead to a drop in Chinese tourists. While the figures have not recovered as significantly as we hoped, we still expect passenger growth in the fourth quarter to be better,” he said. “This year, passenger numbers continue being affected by external factors.”

The US-China trade war and the global slowdown has had clear impacts on passenger figures this year, while the the Hong Kong political unrest is also affecting the tourism industry, the AOT president said.

However, Nitinai reckons revenue growth this year will be between 5 and 6 per cent, and will continue to be stable in 2020. Profit levels this year should also be stable compared to 2018.

In 2018, AOT’s total revenue stood at Bt62 billion, with net profits of Bt25 billion. As of July 30, 2019, the company reported a total year-to-date revenue of Bt48.9 billion and profits of Bt19.9 billion. To maintain this profit level, the AOT will have to earn an additional Bt5.1 billion by year end and to achieve this, it plans to focus more on its non-aeronautical businesses.

Currently, 43 per cent of its total revenue comes from areas such as concession revenue, office and property rents as well as service revenue.

Hence, Nitinai said, by next year non-aeronautical revenue should make up to 45 per cent of AOT’s total revenue thanks to the digital transformation process it is currently undergoing.

On August 21, AOT launched its digital platform, “Living Airports”, for six airports across the country, starting with Bangkok’s Suvarnabhumi International Airport.

On the management side, the application can be used to facilitate traffic management by providing real-time reports on the number of passengers at specific locations, while passengers can use it to access information on their flights, check-in rows, transportation services, shopping and dining options at the airport as well as flight alerts.

Once the application has been successfully applied at Suvarnabhumi, it will also be made available at Don Mueang, Chiang Mai, Hat Yai, Phuket and Chiang Rai airports.

A Watsons survey of 14,000 consumers in seven markets found that Asians travel to other Asian countries an average of 1.7 times per year and Thais 1.2 times per year, with Hong Kong and Singapore among the top destinations for shopping and leisure.

Watsons One Pass is now available in Thailand, Hong Kong, Macau, Mainland China, Taiwan, Singapore, Malaysia and Indonesia.

Cardholders simply their membership card (or the virtual card in the Watsons application when paying and receive normal reward points and special discounts.

“Watsons One Pass will provide members with a pleasant shopping experience with no borders and they’ll enjoy greater value,” said Watsons Thailand general manager Pasitt Munkongkuntivong.

About 86.1 million Watsons members are entitled to One Pass privileges, earning points while travelling.

The channel has reinforced its seven main areas of content – Main News Programme; Economy, Finance, Investment; World Society and Politics; World Environment; World Innovation; Food & Health; and Sports – and promises economic news “presented from a different perspective”.

Veteran journalist Suthichai Yoon has been invited to host the programme along with news anchors Jake Rattanatungtrakul, Pat Jungkankul, Kwanchanok Rojananin, Banphot Thanapermsuk, Monchai Wongkittikraiwan, Siratthaya Isarabhakdi, Taweerat Jiradilok, Thanchanok Jongyotying and Monai Yenbutra.

In addition, the news team of True4U channel has collaborated with TNN 16 to offer an engaging, complete and reliable news experience for businessmen, executives and entrepreneurs with the introduction of “AI Recommendation” technology that analyses viewing data to improve content offerings and better respond to the needs of viewers.

People will be able to consume news faster and in advance via Omni-Channel, offering 24-hour live streaming via the TrueID application, Facebook, YouTube, Twitter, Instagram and Line Official.

Ongard Prapakamol, co-managing director of Thai News Network (TNN) Co Ltd, said TNN 16 News Station has been a crucial voice in helping develop Thai society continuously for 11 years.

New highlight programmes include “The Conversation (JKN-CNBC)” based on CNBC’s popular show and hosted by veteran journalist Suthichai, who will talk with policymakers about current issues.

“Main News Programme now has more emphasis on quality and content that’s updated every hour,” Ongard said.

“Economy, Finance, Investment is doubled in time and focuses on current domestic and international economic outlooks as well as the EEC. World Society and Politics brings insights and updates on all political movements around the world. World Environment keeps viewers abreast of environmental issues around the globe.

“World Innovation features new trends that are transforming the world in the digital age. Food & Health offers knowledge on the latest health trends and popular foods. And Sports showcases local and international sport news, delighting all types of sport fans.

“These seven groups directly cater to the needs, tastes and preferences of the channel’s target audience, making TNN 16 a unique news channel that offers a superior viewing experience.”

The company aims to become a multinational corporation in order to boost corporate potential, increase staff capabilities, create business opportunities and support global marketing through overseas offices. The group aims to initiate three major changes – the “3Cs” – change of namely office, work approach and technology at a cost of some Bt1.3 billion.

“At a time when everything is being disrupted, we need to adapt and be ready to deal with fast changes in the industry. It is crucial to prepare people to drive our organisation. TCP’s vision is clear. As a Thai company which owns world-class brands, runs overseas offices and works with business partners around the world, we have to operate at the highest standard to guarantee a good reputation and prestige for Thailand. It is a huge responsibility. The corporate transition to a digital platform is part of our 5-year business plan to enable employees at all levels to handle ever-changing technological challenges. We are looking to triple our sales to Bt100 billion and become a Thai-owned multinational corporation,” said Saravoot Yoovhidhya, the group’s chief executive.

Prakun Chanthong, TCP Group’s director of Human Resources and Administration Division, also commented, saying: “TCP Group is a large organisation that employs people from different backgrounds. Getting both experienced employees and younger staff to collaborate seamlessly is one of our priorities. That’s why we have designed a new approach to work. Utilizing the 3Cs concept will enable everyone to transition from the old framework to an innovative platform, which integrates technology with work process. Our goal is to uplift and modernize people’s capabilities while also attracting new generations of talents to support global business growth.”

C 1 – Change of Office to Innovation Hub

TCP Group has invested Bt740 million in building a new company headquarters on a property adjacent to its existing head office. The new building has been designed to include work space supportive of the new approach. The work space will be more open and relaxed with partition areas between departments allocated for talks or meetings. On individual floors, each department will focus on creating a positive ambience among employees. The amount of common areas to be used for staff activities and recreation, will increase by 30 per cent. Modern technology will be installed to connect the equipment of employees at the head office, at provincial offices and at overseas branches to enable fast and convenient operations.

The new headquarters will be built on an area of 6 rai and will be 4 stories high. Construction will begin in 2019, with completion and operation slated for 2021. Following the opening of the new headquarters, the existing head office will be renovated, following the same concept as the new headquarters.

“We know how important it is to create a good atmosphere in the workplace. Offices need to be more than a workplace. They should be places where everybody comes together in casual meetings to brainstorm and collaborate. This will allow employees to mingle and promote creativity and innovation. When the new headquarters are completed, we will hire 250 additional employees,”. Prakun said.

C 2 – Change of Work Approach and Building a Powerful, Resilient Organisation

“Today, innovation is crucial to driving business. To ensure that we stay ahead with the wave of change in the industry, technology is an essential tool to increase agility. Our staff will be able to work from a virtual office which functions like a mobile workplace. You simply need a notebook computer and the Internet, or hold video conferencing as needed. This allows people to be more agile and productive without being bound to the office. TCP staff may work at home or in a co-working space provided by the company in cities, upcountry and abroad. This will allow the organisation to truly operate as a global company,” Prakun said.

In addition, agile performance and scrum are adopted to allow cross-functional and cross-generational co-working to create seamless teamwork, especially in international collaborations or global marketing when local employees work with marketing teams of other countries. This will lead to the integration of a global-standard approach to work for staff located in different countries, enabling a borderless culture of high performance.

“This new approach will bring our staff a positive work experience, as it will simplify and provide effective solutions to day-to-day hiccups. It is designed to make our organisation stronger and more agile,” Prakun said.

C 3 – Change of Technology

“New developments like the Internet of things, virtual reality, AI, cloud computing or robotics will eventually change the way businesses operate,´ Prakun continued. “That’s why we have invested more than Bt560 million to introduce technology designed to help our team work, such as the introduction of a virtual office and the use of an AI chatbot to communicate with our employees and customers. We have also set up an internal ‘incubator’ team to help our staff learn and experiment with prototyping product and service ideas, which could leads to deeper understanding of consumers and the marketplace.

“Our plan is for TCP Group to become an innovation hub that continuously keeps us on the leading edge in terms of product and service development, propelling our organisation forward in line with our vision. In addition, equipping our people with skills for the new world is of extreme importance. For that reason, we have invested Bt80 million into staff training to ensure our people are up to speed and that no one is left behind. With this transformation, it is our commitment to retain all employees and not have any lay-offs. Our investments are aimed to uplift capabilities, bolster job security and open the organisation up for new high-performing talents.

“The corporate transformation will be completed in 2022. By then, we will have a strong foundation needed for sustainable growth which will make TCP Group a Thai-owned multinational corporation,” Prakun said.

“The Living Airports software platform links the information technology systems of all airports and is part of our goal to become a full-scale digital organisation in the future,” said Nitinai Sirismatthakarn, president of the AOT at a press conference today.

If the application proves successful at Suvarnabhumi Airport, the platform will then be implemented at Don Mueang International Airport, Chiang Mai International Airport, Hat Yai International Airport, Phuket International Airport, and Mae Fah Luang – Chiang Rai International Airport.

In management, the software can be used to facilitate traffic control through giving real-time reports on the numbers of passengers at specific locations.

Passengers will be able to gain access to information on flights, check-in rows, transportation services, shopping and dining as well as flight alerts.

AOT has also partnered with the CAT Telecom Plc (CAT) to offer free wifi at the six major airports in Thailand.

“This move is in line with the government’s agenda to make Thailand the leading hub for global aviation through digital transformation,” said Dhanant Subhadrabandhu, senior executive vice president of marketing and services at CAT.

Design of the Bt5 billion facility will highlight Thai architecture and cultural identities, and shoppers will find at least 130 well-known international luxury and lifestyle brands.

More than half of these brands are opening their first outlet shop in Thailand, and over 60 have chosen to open their “exclusive outlet store” only at Central Village, with discounts of 35 per cent to 70 per cent every day.

Dr Nattakit Tangpoonsinthana, the executive vice president for marketing at CPN, said: “Central Village is pioneering the new segment of ‘Luxury Outlet’ for the first time in Thailand. We intend to establish this new retail platform, filling the gap in the market, by making it one of the world’s leading shopping destinations, similar to other popular tourist cities such as Japan, South Korea and Hong Kong, which also have leading outlets in Asia. Central Village is Bangkok’s high potential luxury outlet for Southeast Asia and we are expecting to attract customer traffic of 6-10 million visitors per year, which can be divided into 65 per cent domestic focusing on the young and mass affluent nationwide, and 35 per cent international tourists focusing on those who fly into Bangkok.”

The facility will also boast restaurants, a Tops Market, a children’s playground and tourist service points.

In addition, CPN plans to promote creative Thai brands at the Thai Pavilion Zone, where Thai products and contemporary art fairs will be held throughout the year, promoted as “Thai Signature Cultural Events”. CPN will join hands with governmental organisations led by the Ministry of Culture and the Department of Internal Trade (DIT) to hold events in a modern Thai theme presenting gifts and souvenirs, and local handicraft or OTOP items will be on sale.

Central Village will also provide convenient transportion to and from the facility, which located near Suvarnabhumi Airport, using a shuttle-bus service available at three pick-up points: CentralWorld, Udomsuk BTS Station and Novotel Suvarnabhumi Airport Hotel. Tourists will be at ease in dropping by at Central Village on their way to and from the airport, according to a release on Wednesday.

This was achieved following the launch of a series of new Indonesian hotels in recent weeks. The 104-room Swiss-Belinn Gajah Mada Medan in North Sumatra and 150-room Swiss-Belhotel Bogor in West Java both started welcoming guests in May, and the 107-room Swiss-Belhotel Serpong opened in southwest Jakarta on June. The trio of new openings helped to boost Swiss-Belhotel International’s Indonesian collection to 72 hotels and resorts comprising 10,873 rooms and suites.

“Reaching 10,000 rooms in Indonesia is a huge achievement for our company, and I would like to thank our entire team and our local partners for making it possible. Indonesia is one of the world’s most exciting markets, with rising affluence and accessibility helping to drive tourism all over the archipelago. We look forward to unveiling even more exceptional Indonesian hotels in future, as we continue to expand our presence nationwide,” said Gavin M. Faull, chairman and president of Swiss-Belhotel International.

The next phase of Swiss-Belhotel International’s Indonesian expansion is already underway with the company scheduled to open the 227-room Swiss-Belhotel Darmo Surabaya late this year and the 252-room Swiss-Belhotel Solo early in 2020.

Swiss-Belhotel International’s success in Indonesia has not gone unnoticed. The group was named was recognised as “Indonesia’s Leading Global Hotel Chain” at last year’s Indonesia Travel and Tourism Awards (ITTA). the eighth time it had won the award.

The study tracked payment habits and attitudes as well as exploring emerging topics related to payments among 4,000 consumers across eight Southeast Asian countries, including 500 respondents from Thailand.

Nearly two in three (64 per cent) said they prefer paying directly with their own bank cards, such as debit and credit cards, for public transportation. In addition, sixty-seven per cent prefer to pay using contactless card and mobile payments.

“Visa is engaged with 120 cities around the world to implement open-loop payment solutions for public transportation. We have seen that in major cities such as London, New York, Singapore and Sydney, moving from cash to electronic payments in public transportation enables passengers to move quicker from point A to point B while offering a more consistent experience,” said Suripong Tantiyanon, country manager for Visa Thailand.

“At the same time, public transport operators who adopt open-loop payments can reduce their operating cost, improve passenger experience and boost ridership. According to Visa’s Cashless Cities report, transit operators spend an average of 14.5 US cents of every physical dollar collected, compared to only 4.2 cents for every digital dollar,” he added.

Open-loop payment in transit refers to the acceptance of payment methods that are not proprietary to the transportation network. In other words, passengers can pay directly with their bank-issued debit and credit cards for public transport, such as subway, trains and buses.

Respondents said their top reasons for adopting open-loop payment in public transport are no need to prepare cash or top up stored-value cards (76 per cent), reduction of cards in wallet (63 per cent) and the ease of tracking travel expenditure (56 per cent).

Top reasons for consumers to move away from the current fare payment system (close-loop) are the inability to pay if there is insufficient balance in stored-value travel cards (53 per cent), the need to top up stored-value cards (43 per cent), stored-value cards are non-refundable once lost (36 per cent) and the need to prepare cash or payment cards to top-up (35 per cent).

When asked about their most preferred payment methods, respondents to the survey indicated debit or credit card via contactless technology as their first choice (45 per cent), followed by mobile contactless payment (22 per cent) and biometric payment (20 per cent).

The study also tracked consumers’ attitudes towards using different payment methods for toll charges. Similar to public transportation, four in five (81 per cent) of respondents would consider using own debit or credit cards with contactless technology to pay. Their top reasons to digitize their transaction include no need to prepare cash and topping up stored-value toll cards (71 per cent), it helps to reduce the number of cards in wallet (58 per cent) and the ease of tracking toll payment expenditure (31 per cent).

“From our experience working with public transport operators and authorities around the world, open-loop payment in mass transportation is one of the most effective avenues to widen adoption of electronic payments. Additionally, this will provide international visitors with greater choice of payment and improve Thailand’s attractiveness as a global tourist destination. We are convinced open-loop payment holds the key to sustainably transforming consumer behavior and we are open to working with all stakeholders to realise the country’s true potential,” Suripong concluded.