Revenues for the period were reported at Bt5.225 billion, a similar level to the same period last year. Meanwhile, the company’s EBITDA was Bt906.7 million, a decrease of 9.6 per cent year on year. The company achieved net profit from operation of Bt290.5 million, a decrease of Bt81.2 million, or 21.8 per cent year on year. However, the company had net profit of Bt232.4 million, a decrease of 37.5 per cent year on year due to the provision for long-term employee benefits obligations of Bt58.1 million.

Total hotel business revenue was Bt2 billion, a decrease of Bt138.7 million (or 6.5 per cent) year on year, due to the lower number of Chinese tourists, who make up an important group of tourists during the low season, coupled with the closure for major renovation of Centara Grand Beach Resort Samui on June 1. In addition, the operating results for the 5-star property in the Maldives softened compared to the same period last year. In Q2/2019, the company achieved EBITDA of Bt543.1 million (or 27.1 per cent of total hotel business revenue).

Total food business revenue was Bt3.224 billion, an increase of 5.7 per cent year on year, derived from a net increase of 99 QSR outlets. As such, total systems sales (TSS) growth was 5.7 per cent year on year; while same stores sales (SSS) growth decreased by 1.8 per cent year on year – but improved from the previous quarter, especially for Mister Donut and Auntie Anne’s. Nevertheless, the offering of value promotion campaigns to drive sales and the increases in fixed costs such as labour costs resulted in the lower profit margin. Rhe Company achieved EBITDA of Bt363.6 million (or 11.3 per cent of total food business revenue) in the second quarter.

For the first six months of this year, the company achieved total revenues of Bt10.868 billion, a similar level to the same period last year, and total EBITDA of Bt2.404.3 billion, a decrease of 9.9 per cent year on year, as a result of the operating performance for both hotel and food businesses. Net profit from operation was Bt1.035 billion, a decrease of 17.5 per cent year on year. The company recognised provision for long-term employee benefits obligations of Bt58.1 million as well as an insurance claims payment for damages to its property of Bt80.6 million (net of taxes). Thus, this resulted in net profit of Bt1.058 billion, a decrease of 15.7 per cent compared to the same period last year.

“We expect our total revenue in the second half of this year to be better than the first half, when the baht depreciates now that the Monetary Policy Committee has cut the policy interest rate by 0.25 per cent early this month and September, high season for tourists, arrives,” he said.

The national carrier is planning to boost the number of aircraft leased to European airlines by three and sell four existing airplanes and will propose this plan to its board soon.

The airline will also buy foreign exchange after sustaining losses of 5 per cent when the baht appreciated in the first half of this year compared to the end of last year.

“If we don’t do anything, we will suffer high losses for the rest of this year. We believe our business strategy will reduce our losses in the rest of this year,” he said.

As for the plan to buy 38 new aircraft worth Bt156 billion, it needs to be reconsidered because the government has insisted that the funding for the purchase must come from the company, he said.

Sumeth added that the airline has also announced its cost-saving schemes such as SaveTG Co-Creation, which reduces its management cost without having an impact on its service quality.

The airline is also collaborating with other organisations to reduce its cost by following a zero-waste management policy. THAI is also planning to introduce new direct flights to Sendai, Japan in the last quarter of this year.

THAI is also focusing on digital marketing to boost customers and reduce costs, and is cooperating with its business partners and subsidiary ThaiSmile to provide services and increase its income, he said.

Its earnings before interest tax depreciation and amortisation, or EBITDA, was Bt906.7 million, a decrease of 9.6 per cent year-on-year (YoY). The company saw net profit of Bt290.5 million, a decrease of Bt81.2 million, or 21.8 per cent, YoY.

However, in the second quarter of this year, the company earned net profit of Bt232.4 million, a decrease of 37.5 per cent YoY due to the provision for long-term employee benefit obligations of Bt58.1 million.

Central Plaza’s hotel business meanwhile reported revenue of Bt2 billion, a decrease of Bt138.7 million, or 6.5 per cent, YoY, due to a lower number of Chinese tourists – an important group of visitors during the low season – coupled with the closure of Centara Grand Beach Resort Samui for major renovation since June 1, 2019. In addition, the operating results for the 5-star property in the Maldives softened, compared to the same period last year. In the second quarter of this year, the company achieved EBITDA of Bt543.1 million, or 27.1 per cent, of total hotel revenue, it reported.

Its food business recorded Bt3.22 billion, a rise of 5.7 per cent YoY, derived from a net increase of 99 quick service restaurants. Total systems sales growth was 5.7 per cent YoY, while same stores sales growth decreased by 1.8 per cent YoY but improved from the previous quarter, especially from Mister Donut and Auntie Anne’s outlets. However, the firm’s promotional campaigns to drive sales and an increase in fixed costs such as those for labour resulted in the lower profit margin. The company achieved EBITDA of Bt363.6 million, or 11.3 per cent, of total food business revenue in the second quarter of this year.

For the first half, the firm saw total revenues of Bt10.86 billion – similar to the same period last year – and total EBITDA of Bt2.4 billion, a decrease of 9.9 per cent YoY, for both its hotel and food businesses. Net operational profit was Bt1.03 billion, a decrease of 17.5 per cent YoY.

The company’s long-term employee benefit obligations of Bt58.1 million and meanwhile an insurance claims payment for damages to its property of Bt80.6 million resulted in net profit of Bt1.05 billion, a decrease of 15.7 per cent compared to the same period last year, according to the firm’s earnings report.

Peerapat Srisukont, managing director of Frasers Property Industrial REIT Management (Thailand) Co Ltd (FIRM), which manages FTREIT, said on Tuesday that United Overseas Bank was serving as underwriter.

He said Series 1 was a debenture in the amount of Bt500 million with a maturity of four years and a fixed coupon rate of 2.63 per cent per annum, with redemption in 2023.

Series 2 is in the amount of Bt500 million with a maturity of seven years and a fixed coupon rate of 3.14 per cent, to be redeemed in 2026.

TRIS Rating on July 22 affirmed an “A/Stable” rating for the FTREIT debentures, the highest credit rating of any domestic industrial REIT.

The company plans to use the proceeds from the debentures to repay 2018 loans for assets acquisition.

Takorn Tantasith, the watchdog’s secretary-general, said on Tuesday the money is going to Spring 26 (Channel 26, formerly known as Now 26), Spring News Television (Spring News 19 Channel) and Bright TV (Channel 20).

In May they were the first broadcasters to inform the regulator of their intention to hand back their licences and will all suspend programming after midnight Thursday.

Spring 26 will receive more than Bt600.7 million, Spring News Bt498.2 million and Bright TV Bt278.4 million.

Six commercial digital TV broadcasters announced on May 10 that they were returning the seven licences they had secured from the NBTC. May 10 was the deadline for broadcasters to declare such an intention.

The six included Spring News Television Co Ltd (for Spring News Channel 19) and Nation Multimedia Group (for Spring 26, formerly NOW26).

The others are Bright TV (for Channel 20), Voice TV (Channel 21), MCOT (Family Channel 14) and BEC Multimedia (Family Channel 13 and 3SD Channel 28).

Voice TV will go off the air after midnight August 31 and receive more than Bt378 million.

MCOT Channel 14 exist on September 15 with Bt163.3 million.

BEC Channel 28 and Channel 13 leave the airwaves on September 30 with compensation topping Bt680 million and Bt162.5 million, respectively.

Name / Compensation / Off the air

Spring 26/ Bt600.739 million-plus/midnight Aug 15

Spring News/ Bt498.24 million-plus /midnight Aug 15

Bright TV/ Bt278.41 million-plus /midnight Aug 15

Voice TV/ Bt378.054 million-plus /midnight Aug 31

MCOT Channel 14/ Bt163.298 million-plus /midnight Sept 15

BEC Channel 28/ Bt680.083 million-plus /midnight Sept 30

BEC Channel 13/ Bt162.543 million-plus / midnight Sept 30

Source: NBTC

Thailand currently has 22 commercial digital TV channels in what is seen as a saturated market.

The NBTC is ceding to directives from the former ruling junta to ease the financial burden of digital TV broadcasters in an industry that had struggled for years amid the rise of the Internet.

The junta also required the NBTC to waive upfront payments for the fifth and sixth instalments on all licences.

The NBTC will cover the network rental fees for all licence holders for the remainder of their nine-and-a-half-year term.

The NBTC board has meanwhile approved a multi-band-spectrum auction plan to help propel Thailand into the 5G era.

It will soon arrange a hearing with all parties involved.

There will be two auctions, the first for higher-frequency bands such as 26-28GHz, the 2600MHz middle band and the lower 700MHz band.

The second auction will be for middle bands of 3400-3600MHz and 1800MHz.

The board also approved a partial recall of satellite spectrum band 3400-3700MHz for reallocation to 5G service.

The Digital Economy and Society Ministry had granted it to satellite operator Thaicom.

Takorn has said the recall wouldn’t affect Thaicom’s operations, for which it has sufficient bandwidth remaining.

Banks are being encouraged to lend based on environmental, social and good governance (ESG) criteria, which will serve as protection against adverse consequences and therefore ease potential problems. Four policies for responsible lending will be put in place by the end of next year, accounting for stakeholder engagement, internal implementation mechanisms as well as transparency.

Bank of Thailand Governor Veerathai Santiprabhob said that if banks fail to integrate ESG into their business practices, their financial position may be jeopardised.

Banks should adopt responsible lending guidelines and adjust through internal changes to fend off problems that would otherwise be caused by their failure to embrace ESG principles, he said. It is therefore essential for financial institutions, led by their board members and high-ranking executives, to push for incorporating ESG criteria into their operations and risk management.

At the beginning of this year, many areas in the country suffered from PM2.5 air pollution, which immeasurably damaged people’s health and hit tourism. Besides this, flooding and other environmental issues have led to a slew of additional problems the kingdom faces.

Moreover, household debt has become chronic. If left unresolved, the problem will weaken the economic health of households, affecting debt quality and threatening Thailand’s growth prospects in the long run.

Meanwhile, corruption, which is deeply rooted in society, has eroded the country’s potential to advance and aggravated its social inequality.

Faced with these problems, the Thai banking sector, in its capacity as a financial intermediary, can help fix them by appropriately allocating resources to ease any negative impacts that may occur.

The sector aims to establish a common policy on responsible lending to ensure commercial banks have proper procedures to promote socially conscious loan approvals based on ESG principles to protect financial institutions and mitigate potential damages.

It is essential for financial institutions to prioritise the setting of clear goals, together with evaluation and examination of policy implementation. Related information must also be disclosed in a timely manner.

The cooperation marks a milestone for the financial sector in conducting business by not only adhering to internal corporate governance but also integrating ESG criteria with a holistic approach by considering negative impacts that their businesses may cause.

Thai Bankers’ Association chairman Predee Daochai said the association recognises the importance of responsible lending.

“All of our member banks believe the financial institution system is an important mechanism in not only providing financial support via lending, but also creating a balance that can help minimise potential risks to the sector and the Thai economy. Therefore, a commitment by these institutions to lend responsibly will help protect financial service users and build the nation’s stability over the long term,” he said.

Given this, the BOT-initiated guidelines for sustainable banking operations are vital and comprise leadership and a commitment to responsible lending, stakeholder engagement, internal implementation mechanisms, and transparency.

BOT is also encouraging banks to commit to the creation of a culture of financial discipline and business operation that attaches importance to the well-being of the economy, society and the environment, based on good governance principles and appropriate risk management.

Sujint Thammasart, chief operating officer at CP Foods, said the move would improve operations and it takes steps to achieve IFFO certification, which ensures traceability for fishmeal and fish oil throughout the supply chain.

“CP Foods’ aqua business both in Thailand and overseas has a single standard for the sustainable procurement of raw materials,” he said. “Particularly, we encourage the fishing industry to work in accordance with legal international standards.”

Pichaiyut Tachapong, a senior vice president at CPF India, said applying got IFFO certification was the first step to ensure that the company’s fishmeal-procurement system is in line with the law and international standards.

It also reduces environmental impacts, he noted. The company will engage in legal fishing with the appropriate equipment that guards against the extinction of any species.

“Certification will confirm that our fishmeal comes from legal sources,” Pichaiyut said.

• WE608D Phuket-Hong Kong delayed to 9.20am

• WE609 Hong Kong-Phuket to 3pm

• WE630 Bangkok-Hong Kong to 8.45pm

• WE608 Phuket-Hong Kong to 8.20pm

• WE631D Hong Kong-Phuket to 1.30pm on Wednesday

The airline expects to have further updates later.

Passengers affected can change their tickets free of charge.

The airport, targeted amid ongoing anti-government protests, had cancelled all flights from 3.30pm on Monday to 7am Tuesday local time.

THAI announced it would send larger aircraft on Tuesday to bring back all passengers who had been stranded there overnight.

Passengers who had booked flights for August 12-13 can change their itineraries at no additional charge before August 20.

Further information is available around the clock at thaiairways.comand the THAI contact centre, 02 356 1111.