Dusit Thani Freehold and Leasehold Real Estate Investment Trust (or DREIT) has applied to the Securities Exchange Commission for a public offering of 365 million units to expand its investment to acquire up to Bt2.3856 billion of Dusit Thani Maldives by the third quarter of this year, the fund’s manager, Sarnthor Mudhasakul, said yesterday.

The financial advisor noted that the proposed investment would strengthen the REIT and diversify its revenue bases internationally and beyond local hotels, as well as its customer bases. The investment would likely not reduce the cash distribution per unit, but it would enlarge the REIT’s size, which could lead to improved trading liquidity, borrowing capacity and credit rating, he said.

Sarnthor, who is also managing director of Dusit Thani Properties REIT Co Ltd, said that SEC is reviewing the application to make a rights offering/public offering of up to 365 million units and was expected to grant it by the third quarter of this year.

Proceeds of the offering would partly finance the investment in Dusit Thani Maldives, a major five-star hotel on a 46-acre plot on Mudhdhoo Island in Baa Atoll, Maldives. The plot is a leasehold estate with a remaining lease period of more than 40 years. The total investment cost would not exceed Bt2.3856 billion.

“Dusit Thani Maldives is a resort with uniquely designed villas that demonstrate a perfect blend of local beautiful architecture and landscape, and Thai-style decorations. It has become a popular tourist destination, recording an average occupancy rate of 84.43 per cent in 2018. In addition to this property, DREIT’s manager seeks to actively manage the REIT by acquiring more promising, high-quality properties as a way to retain the REIT’s growths and stabilise long-term returns to the unitholders,” Sarnthor said.

The company’s financial advisor, Napat Wattanathissatharn, executive vice president of CIMB Thai Bank Plc said that additional investment would further stabilise DREIT’s shared rental revenue through enhanced asset diversification. It would add an overseas property to the asset portfolio, which currently consists of three hotels in Thailand – Dusit D2 Chiang Mai Hotel, Dusit Thani Laguna Phuket Hotel and Dusit Thani Hua Hin Hotel.

The investment would also diversify its customer base. In particular, the share of frequent individual travellers segment would jump to 86 per cent from 75 per cent. Rental revenue would flow to DREIT more regularly all year round, as the tourist-season-influenced H1/H2 ratio would shift to 60.18 per cent/39.82 per cent from 68.48 per cent/31.52 per cent. In addition, less reliance on Thai customers would be achieved.

“The investment would add a promising premium-grade asset to DREIT’s portfolio, and it would not reduce the cash distribution per unit,” noted the banker.

The capital raise would enlarge DREIT’s total asset value to a maximum of Bt7.036 billion from Bt4.554 billion. This could lead to improved trading liquidity and healthier investment interest, as well as higher borrowing capacity and a higher credit rating, all of which could, in turn, be translated into greater returns per unit in the future, Napat said.

Under the plan, BMTA will lease 300 new Natural Gas for Vehicle (NGV) buses and 400 rental hybrid buses, as well as purchase 2,300 new buses including 489 NGV vehicles, 1,453 hybrid buses, 35 electric vehicle buses. It will also spruce up its existing 323 NGV buses.

Meanwhile, BMTA will set up an e-ticket system and also a QR Code transport fee system, enabling it to reduce its staff from the current 13,000 to 6,000 in 2022 under an early retirement program.

The event being held from June 4-5, 2019 is the final stage after the two-month application and review process. Schaeffler received 46 applications from startup companies across 20 countries and it has shortlisted 15 projects for the selection process during the event.

Schaeffler Asia Pacific is global innovation hub for Urban Mobility and Robotics

Dr Tomas Smetana, Chief Technology Officer at Schaeffler Asia Pacific said “Schaeffler views the diverse and growing region of Asia Pacific as the living lab for research and development for its focus areas of urban mobility and robotics.

The company has designated Schaeffler Asia Pacific as the global innovation hub for these focus areas. “Yokohama R&D Center is the biggest R&D facility in the region with over 125 research engineers with extensive knowledge and experience for robotics, e-mobility and urban mobility.

These areas are closely linked to the Schaeffler Group strategy – “Mobility for tomorrow”. This event creates a unique opportunity to explore creative ideas and build new partnerships that develop technologies of the future.”

It is a step further from the company’s long-standing research collaboration with universities across the region. With the aim to deepen this partnership and explore new research areas in the field of urban mobility, in 2017 the company set-up the Schaeffler Hub for Advanced Research (SHARE) at the Nanyang Technological University in Singapore.

Schaeffler also began as a start-up

Schaeffler knows the great potential offered by young companies with convincing business ideas. The company began as a start-up itself more than 70 years ago. In 1946, Dr Wilhelm Schaeffler and his brother Dr.-Ing. E.h. Georg Schaeffler started the Industrie GmbH in an old airman’s barracks in Herzogenaurach. Georg Schaeffler had the ground-breaking idea for a cage-guided needle roller bearing in 1949. The INA needle roller cage was patented in 1950 and has been an indispensable component for vehicle manufacturing, mechanical engineering, and plant construction since then.

Finalists pitching for projects in 4 technological focus areas

Prof Tim Hosenfeld, Senior Vice President Corporate Innovation at Schaeffler AG. said “Schaeffler is looking for partnering with startups for four focus areas: i) Mobile Platforms, ii) Robot Arms, iii) Control & Perception, and iv) Energy Solutions.

The 15 startups, who were shortlisted for new ideas in these areas, will participate in the final selection process which will include a 10-minute pitch presentation, Q&A and roundtable discussions with an audience comprising Schaeffler experts from around the world.

Our aim is to find the startups that will become Schaeffler’s new partners to develop new, sustainable technological solutions for our automotive and industrial customers.

Delta highlighted its smart manufacturing solutions that integrate communications and devices including robots, vision inspection system, HMIs, PLCs, servo motors and drives to over 85,000 industrialists in Asean seeking to empower their manufacturing.

Speaking at the event, Stan Li, Delta sales director for industrial automation, said: “Delta is supporting manufacturers in Asean to use automation to leapfrog from traditional processes to smart production. Our automation solutions are specifically for helping business owners boost manufacturing productivity, optimise costs and spur competitiveness.”

Delta highlighted its smart manufacturing solutions in a unique demonstration that combined its process devices, robots and control products on a mini automated production line. Customers can implement Delta’s automation solutions like this on their production lines to make massive gains in productivity, optimise costs and be competitive in the rapidly globalising and technology-driven manufacturing landscape, the company said.

At the Delta booth, Kasemson Kreuatorn, Delta’s senior regional manager for industrial automation, used the demonstration and product displays to explain to visitors how Delta’s innovative portfolio including the industrial cloud router, HMIs, PLCs and high-performance compact drives seamlessly integrate with robots and sensors to offer Industrial Internet of Things solutions.

Users can leverage these solutions for precise and energy-efficient control in metal and plastic processing, assembly, inspection and packaging applications.

Delta’s Industrial Internet of Things solutions give business owners maximum control over factory operations, which ultimately drives growth in productivity, efficiency, speed and quality.

The DX-2100 and DX2300 3G cloud routers and DIACloud make it easy for factory managers and operators to manage production tasks via wireless control and communication, Delta said.

In addition, Delta displayed its industrial power supplies, including its latest DIN Rail power- supply series and UPS ranges.

Visitors could also explore Delta’s three-axis linear actuator solution and energy-efficient smart press machine, which allow precise and consistent automated processing.

This new digital platform offers “Exact Comparison and Budget-to-Plan” features, which enable customers to purchase schemes based on their budget. The company expects Bt200 million in motor insurance premium in the first year.

“With our commitment to comprehensively answer the needs of automobile users, the company is always looking for opportunities to offer different aspects of lifestyle-related services. We realise that, apart from auto finance services, motor insurance is another necessary product. To better fulfil the needs of automobile users, the company aims to offer enhanced insurance services through Krungsri Auto Broker’s business strategies,” Pairote Cheunkrut, chairman of Ayudhya Capital Auto Lease Plc, said.

“Digital platforms are becoming increasingly a vital part of today’s shopping experiences. The same applies to motor insurance products. According to [global management firm] Bain and Company, approximately 60 per cent of Thai non-life insurance customers use mobiles for product research. However, most customers are still hesitant about choosing motor insurance schemes online, because the premium doesn’t match their budget and the selections are limited,” Pairote added.

Apart from offering product based on budget, the new website will also provide a wide range of schemes for both cars and big bikes from top insures. Customers can simply choose their vehicle specifications, provide their annual budget, insurance class and coverage details, such as sum insured or deductibles, and the system will display comparisons and highlight recommended conditions to assist customers in their decision making.

The last step is filling in personal contact details, so staff can follow up. Soon, the website will also offer the option of renewing existing policies.

“The Krungsri Auto Broker website reflects our dedication in responding to the needs of automobile users, in addition to providing auto-finance services. We expect 300,000 visitors per month and Bt200 million in digital motor insurance premium within a year. The company strongly believes the platform will be a key milestone in building the Krungsri Auto Ecosystem, bringing together various lifestyle services for automobile users, and boosting the standard of Thailand’s auto finance industry,” Pairote said.

The partnership will see Razer’s financial technology arm, Razer Fintech, join Visa’s fintech fast-track programme, which is designed to make it easier for fintechs to access the global Visa payments network.

Razer Fintech and Visa will develop a virtual Visa prepaid solution to be embedded in the Razer Pay e-wallet, which will allow up to 60 million Razer users to make payments wherever Visa is accepted at 54 million merchant locations worldwide.

Chris Clark, Visa regional president, Asia Pacific, said on Tuesday: “We are pleased to partner with such a forward-looking and innovative company that understands the value and importance of expanding access to digital payments. This announcement reaffirms Visa’s commitment to the fast-growing and digitally savvy Southeast Asia region.

“Together, Visa and Razer Fintech have the opportunity to transform the payments experience for not only the gaming community but many of Southeast Asia’s unbanked and underserved consumers as well.”

Min-Liang Tan, co-founder and CEO of Razer, said: “Razer Fintech is a core growth initiative for Razer as we continue to empower digital payments across emerging markets, starting from Southeast Asia. We are incredibly excited with the opportunities that this innovative payment solution serves to millions of consumers, connecting them to an extensive network of merchants globally.

“This partnership with Visa significantly extends Razer Fintech’s position as the largest offline-to-online digital payment network in the region.”

These 25 aircraft will join the Airbus fleet at the airline currently comprising 23 A330s and 14 A350 XWBs.

With the A321neo, China Airlines will be able to operate single-aisle flights with unmatched levels of efficiency and comfort.

The A321neo is a member of the best-selling A320 family, incorporating the latest technologies, including new-generation engines and Sharklets, which together will deliver at least 20 per cent fuel savings by 2020.

As of the end of May, the A320neo family had received more than 6,500 firm orders from 100 customers.