Tag Archives: Economics

Cabinet nod for high-speed rail draft

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Cabinet nod for high-speed rail draft

Economy May 29, 2019 01:00

By   THE NATION

THE CABINET yesterday gave the nod to the draft contract for the high-speed rail project that will connect Thailand’s three main airports.

A budget of Bt66.85 billion for the State Railway of Thailand (SRT)’s new double-track 355-kilometre Ban Phai-Nakhon Phanom line was also approved at its meeting yesterday.

Nattaporn Jatusripitak, spokesman for the deputy prime minister in charge of economic affairs, said that the SRT, as project owner, would now sign a contract with the winner CPH – a consortium of Charoen Pokphand Holding Co Ltd and its allies – for the high-speed rail project. It will connect the country’s three main airports – Don Mueang in Bangkok, Suvarnabhumi in Samut Prakan and U-tapao in Rayong, which is one of three provinces that is a part of the Eastern Economic Corridor (EEC).

The SRT will pay Bt149 billion to the consortium within 10 years or about Bt14.9 billion per year as agreed. The joint investment contract will last 50 years and, thereafter, the rights will be transferred to the state.

The government is expected to reap over Bt300 billion.

At the same meeting yesterday, the Cabinet approved a budget of Bt66.85 billion for the SRT’s new double-track rail – the 355-kilometre Ban Phai-Nakhon Phanom line. Electronic bids will be invited for the railway line.

Initially, the SRT expected to expropriate more than 7,100 plots of land for the double-track rail development, Transport Minister Arkhom Termpittayapaisith said after the Cabinet meeting yesterday.

A contractor will be found for construction of the double-track rail project by 2020 and construction must commence immediately, to be completed in about four years. Service is expected to commence in 2024 or no later than early 2025.

The double-track railway will run through six provinces – Khon Kaen, Maha Sarakham, Roi Et, Yasothon, Mukdahan and Nakhon Phanom.

Along the route, 30 new stations, one junction, three container depots and three container yards will be constructed.

The railway will also be connected to the EEC areas.

Meanwhile, Sawit Kaewvarn, secretary-general of the State Enterprise Workers Relation Confederation, yesterday led representatives from about 45 groups including the State Railway Workers’ Union of Thailand and over 100 affected villagers in the EEC areas to submit a letter to the prime minister. The letter was received by Sompas Nilphan, director of the PM’s Office’s Public Service Office.

The confederation has asked the government to implement the EEC projects and high-speed rail project with transparency and to allow people’s participation in decision-making.

Given concerns over their possible impacts, extending from agriculture, commerce, manufacturing, nature and the environment, to people in the EEC areas, the confederation has proposed four key points for consideration in approving projects for the EEC, Sawit said.

While the project must not have a negative impact on the lives of people in the project area with regard to relief measures for possible damage, the government must proceed with the projects with transparency rather than focusing on benefiting investors who execute the project.

Contracts, especially that of the high-speed rail project, must be publicly disclosed. And the EEC projects and the high-speed rail project must be opened for public hearings before execution due to their large scale, he added.

Asean fits bill for equity investment

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Asean fits bill for equity investment

Economy May 29, 2019 01:00

By  THE NATION

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THE MSCI ASEAN index is now flat year-to-date after rising 6 per cent as of the start of May, according to an HSBC report yesterday.

Meanwhile, yesterday MSCI expands the investment in Asia market that boost the Stock Exchnage of Thailnd yesterday closed up 7.20 points at 1,632.04 with a record transaction value of Bt204.85 billion.Trading was led by foreign investors net buying Bt12.53 billion.

Globally, with equity markets nearing HSBC’s index targets, HSBC prefers a more defensive stance.

In our view, Asean fits the bill. While we expect more volatility and more market stress in the near term, here’s why we think Asean equities can hold their own despite the long shadow cast by trade tensions.

External factors – exports

In Asean, some factors are likely to offset the dispute over tariffs between the US and China over the long term – think shifts in supply chains and new trade agreements – and the region has slowly regained its competitiveness in recent years.

There’s also policy ammunition at home to navigate the trade slowdown.

HSBC expects lower US yields and a stronger US dollar.

Historically, Asean equities have not been overly affected by the dollar’s strength when US yields have fallen. During such periods, valuations have often been much richer and inflation much higher than they are now.

In times of stress, history tells us that Asean is a better place to hide than other emerging markets. Asean outperforms emerging markets in times of US dollar appreciation, rising volatility and EM corrections. Asean will also be supported by a higher dividend yield than in other parts of the region.

Domestic factors

Elections and policies in Thailand, Indonesia and the Philippines have caused some market wobbles.

But we believe the election results point to policy continuity, which should support reforms, infrastructure spending and consumption.

irst-quarter results show earnings are performing quite well in difficult circumstances. Earnings expectations have held up reasonably well so far.

Consensus expects Asean’s 2019 earnings growth at 6.3 per cent. Though this is below the expectation of 7.6 per cent at the start of the year, we think strong domestic demand aided by pro-growth policies can compensate further for problems elsewhere.

Focus on domestic growth, easing monetary policies, infrastructure spending and dividend plays. We remain overweight on the Philippines, Thailand and Indonesia. Upgrade Malaysia to neutral and downgrade Singapore to underweight (from neutral) within the Asean context. On a sector basis, we like consumer, real estate, communication services and selected industrials.

Thammasat, SkillLane launch TUXSA online master’s degrees across three programmes

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Thammasat, SkillLane launch TUXSA online master’s degrees across three programmes

Economy May 28, 2019 22:06

By The Nation

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Thammasat University (TU) and SkillLane have launched an online master’s degree in three programmes – MBA Business Innovation, Data Science for Digital Business Transformation, and Applied AI – with the first classes set to commence in August this year.

TU and SkillLane, Thailand’s leading online learning platform and digital training platform, jointly announced the launch of TUXSA, Online Master’s Degrees, to equip Thais with essential professional skills for today and for the future, and to uplift the country’s international competitiveness.

The first two programs, MBA Business Innovation and Data Science for Digital Business Transformation, are set to start online classes in August, while Applied AI is planned to kick off next year.

Associate Professor Kesinee Withoonchart, the rector of TU, said on Tuesday: “The collaboration between TU and SkillLane to launch online master’s degrees aims at offering education opportunity to Thais, not limited to only our students, by giving them access to new knowledge and skills regardless of time and place.

“The online education channel is currently becoming more and more popular, as it is more convenient and affordable than traditional on-campus courses.

“The cooperation is not limited to the development of technology to facilitate education, but also involves the design of courses to optimise skill enhancement for students, with a focus on putting theory into practice and analysis of real-world cases. We are confident that TUXSA will bring a positive impact to the education sector in Thailand, as well as create positive value for leading organisations strongly committed to employee development.”

Associate Professor Dr Chalie Charoenlarpnopparut, vice rector for Academic Affairs, said: “The curriculum is designed by applying learner-first practice. We start from what knowledges are needed by 21-century’s learners in today’s professional world, and then we develop materials with the help of qualified lecturers and practitioners.

“The lecturer team comprises TU’s teachers, as well as well-known business leaders and experts widely recognised in the field, in order to make TUXSA truly relevant to the professionals and organisations of the future. Some famous guest lecturers include Thana Thienachariya, senior executive vice president and chief marketing officer of Siam Commercial Bank; Natavudh Pungcharoenpong, co-founder and chief executive officer of Ookbee, a leading e-book and digital magazine platform in the Asean region; and Rawit Hanutsaha, CEO of Srichand United Dispensary.”

Titipong Pisitwuttinan, CEO and co-founder of SkillLane, said: “Online education technology will help a lot of Thai people reach the next level of expertise. Many professionals are eager to expand their knowledge, but cannot afford to leave their job for higher education.

“TUXSA will tick all the boxes for those working professionals who are keen to equip themselves with new set of skills to thrive in the digital age, anytime anywhere at their convenience, while they can work full-time simultaneously.”

The MBA Business Innovation programme is designed for the development of management skills in the digital age, with both improved and newly developed curricula focusing on managing innovative business, with subjects including strategic planning, modern management practice, specific skills for business operation and leadership skills.

Students will gain knowledge required for leaders in developing and innovating business in order to sharpen competitive edge and to compete in the regional arena.

The Data Science for Digital Business Transformation programme is designed and developed to capture the needs of today’s organisations where the amount of massive data is rapidly growing and becoming influential in every sector.

Students will learn how to leverage data as a powerful tool in decision-making and to utilise data for analysing and predicting potential competitive advantage.

The programme also provides knowledge required for developing expertise in policy planning and management of digital technology, which are essential for organisation leaders in charge of transforming an organisation in the digital era.

The Applied AI programme deals with fundamentals of theory and development of AI algorithms.

Students will learn how to apply and leverage AI to its best advantage.

In the age where human and AI collaboration is more and more pervasive, learning how to manage and transform an organisation to adopt optimised AI in driving performance is an important part of the programme.

Norwegian Seafood Council promises more growth in Thailand

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Norwegian Seafood Council promises more growth in Thailand

Economy May 28, 2019 18:48

By The Nation

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With export of fresh Norwegian salmon to Thailand exceeding 10,000 tonnes for the first time in 2018 and Norwegian seafood totaling 29,000 tonnes valued at Bt4.8 billion, an increase of 10 per cent from last year, Thailand has become the focal point of the Norwegian seafood industry’s market investments in Southeast Asia.

Among the 11 trade shows exhibiting at THAIFEX World of Food Asia 2019, Norwegian Seafood Council (NSC) and Norwegian seafood exporters are showcasing their premium quality seafood from May 28 to June 1 at IMPACT Exhibition and Convention Centre in Bangkok.

A new director for Southeast Asia, Asbjozrn Warvik Rortveit, is representing the NSC.

“I feel both honoured and excited to represent Norway’s most important industry here,” said Rortveit. “Thailand is an attractive market with a strong domestic consumption of Norwegian seafood, especially salmon. Thai consumers are sophisticated; they are trendy and quality-conscious. Thus, our mission in Thailand will be to build a strong identity for Norwegian seafood with clear associations and to be the most preferred country of origin for salmon and fjord trout, particularly raw consumption. Our focus will be to educate both B2B and B2C on how to properly handle Norwegian seafood through various marketing activities.”

The council is relocating its regional office from Singapore to Bangkok. The significant move reflects NSC’s confidence in the Thai market’s potential. In the past three years, exports of fresh Norwegian salmon to Thailand have increased by 25 per cent yearly, accounting for 50 per cent of the total Norwegian seafood export to Thailand and the highest volume to a single market in Southeast Asia.

“The number is noteworthy as it shows a continuous growth that stems from the Japanese restaurant boom and the liking for sushi and sashimi among Thai consumers,” Rortveit added.

Norwegian seafood places its trademark in sustainability, food safety and origin, which together account for its reputation as the world’s largest salmon exporter with production of 1.3 million tonnes. As well, 2.6 million tonnes of seafood is exported yearly worldwide.

A strict management system and advanced technology are in place to ensure food safety, production quality and welfare of the fish. Farm to table delivery of Norwegian seafood can take as little as 48 hours to reach Thailand’s Suvarnabhumi Airport.

THAIFEX aims to ‘future-proof’ F&B businesses at Bangkok fair

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THAIFEX aims to ‘future-proof’ F&B businesses at Bangkok fair

Breaking News May 28, 2019 18:42

By The Nation

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THAIFEX-World of Food Asia 2019 is going full throttle into the Future of Food as the annual food and beverage show expects another record-breaking edition with more than 2,700 exhibitors.

Asia Pacific is set to become the largest consumer of F&B by 2030, creating a huge market potential for established businesses and startups in the industry. Recognising this opportunity, THAIFEX-World of Food Asia has curated special new shows and an enhanced buyer programme to connect businesses in this thriving and expanding region, and to ensure that F&B businesses have the right tools to future-proof themselves.

The 16th edition of THAIFEX-World of Food Asia kicked off on Tuesday, filling up all 11 mega halls (107,000 square metres of space) at the IMPACT Muang Thong Thani in Bangkok. Asia’s largest dedicated F&B trade show is doubling down on technology and innovation, envisioning the F&B industry of the future.

Opening with a VIP tour, THAIFEX-World of Food Asia features 11 trade shows under a single roof, housing more than 2,700 exhibitors from 42 countries and regions. The trade show aims to welcome over 67,000 trade visitors across five dedicated trade days before it closes on June 1.

Property developer Villa Kunalai prepares for IPO

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Praweerat
Praweerat

Property developer Villa Kunalai prepares for IPO

Real Estate May 27, 2019 11:27

By The Nation

Property firm Villa Kunalai Plc or KUN has filed a prospectus with the Securities and Exchange Commission’s Market for Alternative Investment (mai) as it prepares to list its shares with an IPO of 75 million shares or 25 per cent of total share capital and a par value of Bt1 per share.

The IPO aims to raise capital for additional land purchase in Bang Bua Thong District, Nonthaburi Province as well as for business expansion, Piyapa Chongsathein, Managing Director of S14 Advisory Co Ltd, who has been appointed as the company’s financial advisor, said on Monday.

At present, the company’s registered capital of Bt300 million consists of 300 million common shares, and the paid-up capital of the Company is equal to Bt225 million. After the IPO, the Company’s paid-up capital will increase to Bt300 million.

KUN’s chief executive officer Praweerat Dheva-Aksorn said that the company plans to launch another 3 new projects worth a total of approximately Bt2.82 billion this year to boost its presales for the year.

The group of companies reported total revenue from 2016 to 2018 of Bt297.50 million, Bt450.38 million, and Bt447.09 million and a net profit of Bt5.94 million, Bt10.80 million, and Bt11.56 million respectively.

Reverse-mortgage loans offer the aged a way to maintain their lifestyle

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Reverse-mortgage loans offer the aged a way to maintain their lifestyle

Real Estate May 27, 2019 01:00

By Somluck Srimalee
The Nation
Istanbul, Turkey

Thailand’s ageing society will need creative financial tools and better healthcare, says GHB president

Reverse-mortgage loans are among financial products that could help citizens as the country moves to an ageing society, according to Government Housing Bank (GHB) president Chatchai Sirilai.

“We have set aside Bt1 billion for reverse-mortgage loans at this first stage as the latest move by Government Housing Bank to address this issue. This will cover Bangkok and the suburban market for customers aged over 60 but not above 80 years, and who also own residences and need more funds for their life needs,” he said.

The loan can be up to 50 per cent of the appraised value of housing but not over Bt10 million per unit. The reverse-mortgage loan will offer an interest rate of 6.25 per cent a year for the period of the loan contract.

Under the contract, the bank will pay money monthly to its customers throughout the contract life.

For example, a reverse-mortgage loan of Bt2 million could be approved for a customer aged 65 under a 20-year contract. The customer would receive a Bt8,300 monthly loan payment through to the contract’s end.

“This is the model to help an ageing citizen who has the asset, but does not have the income to use the asset. The citizen could get the loan to spend on their way of life,” Chatchai said.

Since the new financial package was launched, five GHB customers have shown interest.

The bank also boasts a policy to provide project loans at a special interest rate to developers planning residential units for ageing people, said Chatchai.

For example, the bank has signed a memorandum of understanding with Thammasat University to provide a Bt5-million loan to develop its Innovation Hub at Pattaya. The investment budget of Bt5 billion will see 24,000 square metres of land developed for the innovation and medical hub.

The project features 10 buildings including a co-working space, a “smart space for active learning” and a business co-working space. The project will also house a medical centre hub with specialist medical care such as dermatology, cardiology, orthopaedics, ageing care and others.

“We provided a loan for its prototype project that will cover ageing medical care. If it is a success, it will be part of the country’s support to facilitate the needs of ageing people,” Chatchai said.

He added that the reverse-mortgage loan is one among a variety of tools needed to serve the country as it transitions to an ageing society. The key to improving the quality of life is to develop the country’s medical care to serve the demands of the ageing sector.

Government Savings Bank (GSB) is another bank to offer reverse- mortgage loans to its customers, a service it launched in 2017.

GSB has allocated Bt10 billion for the loan scheme.

According to its reverse-mortgage loan policy, the bank credit is capped at a maximum of Bt10 million per loan.

Its chief executive and president Chatchai Payuhanaveechai said recently that reverse mortgages serve to convert home equity into cash for seniors. Those aged 60-80 years and who have a debt-free home within Bangkok and suburban areas are eligible to seek a reverse mortgage.

The loan has a maximum term of 25 years, but the borrower’s age may not exceed 85 years when the loan term ends, he said.

“This is a part of supporting the country as it moves to an ageing society,” he said.

Istanbul’s model for the aged

Following the design of financial package to serve Thailand’s ageing society, GHB president Chatchai said his bank has been studying how overฌseas countries, including Japan and Turkey, are approaching their ageing societies.

They learned that Darulaceze Baskanligi, an institute in Istanbul, was established in 1896 to help care for lower-income people and the aged at the time of a war between Turkey and Russia. Till now,

Darulaceze has continued to help lower-income people aged over 65, as well as children without a family to care for them. The institute currently houses 510 people, 18 of them children without families and the remainder aged over 65, said a Darulaceze staff member.

The facility has a 560-bed capacity.

Up to 70 per cent of the institute’s income comes from donations and the remaining 30 per cent comes from those housed in the facility if they have the income to contribute. If they lack income, they are allowed to remain free of charge if they meet the criteria, she said.

Most of those who can pay their 30 per cent contribution to Darulaceze donate about 7,000 Turkish lira (about Bt42,000) yearly, mainly from their pension funds or from a reverse-mortgage loan, she said.

She added that the institute also welcomes people who remain in their homes but work at the Darulaceze doing painting, weaving or other skilled work. The institute pays them a monthly income.

“We learned how to take care of ageing people and improve their quality of life, and the number of ageing people was up to 17 per cent of the country’s total population in the year 2017. The country will soon move to an ageing society,” she said.

GHB’s president Chatchai added that reverse-mortgage loans are one way to support ageing people, ensuring they have money to spend when they retire from their work. Meanwhile, the government must also implement other measures to take care of all of them, especially in the health management system.

“When we talk about homes for the aged as a way to support ageing people, we must not only provide reverse-mortgage loans for them. Developers have to be concerned about the health system that is necessary for ageing residents, because ageing citizens need a better healthcare system to meet their lifestyle,” he said.

Building housing for seniors requires rethink of priorities

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Building housing for seniors requires rethink of priorities

Real Estate May 27, 2019 01:00

By Somluck Srimalee
The Nation

Several Thai property developers are building residences to cater to the needs of ageing citizens, as they see a growing demand in the market.

For example, Chiang Mai developer Meesuk Thailand Co Ltd points to their Villa Meesuk Residence, a project designed for the aged and which includes a nursing unit to take care of ageing members at the residence. The project also has a collaborative programme with hospitals to take care of their customers 24 hours daily for seven days.

“We cater to the needs of the elderly,” Meesuk director Sasiwimol Singhanetr told The Nation in a recent interview.

“There is a abundant space for family visits and our onsite clinic has a direct link to a nearby hospital in case of an emergency.”

All 28 units in the condominium have been taken up through sales and rental, and the nursฌing home provides 24hour care for ageing people with congenital diseases, she added.

Meesuk plans to expand with the construction of 14 single-detached houses priced at Bt4 million a unit. “Residential demand for the elderly is growing, as the country moves towards an ageing society.

However, a thorough understanding of their requirements and daily necessities is needed in planning a project for the elderly,” Sasiwimol said.

The key to providing residential for senior citizens is to ensure their healthcare is properly managed, because that is essential to their continuing enjoyment of a quality life at home, she said.

In Bangkok, Sansiri Plc has joined with Samitivej Hospital to launch Samitivej Virtual Hospital, a next-generation healthcare service expected to propel the industry towards the 5G era.

Leveraging the latest digital technology, Samitivej Virtual Hospital allows users to consult a doctor anywhere, anytime via smartphone, Chairat Panthuraamphorn MD, the chief executive officer of Samitivej and BNH Hospitals, said recently.

Under this programme, the hospital has also joined with Muang Thai Life Assurance Plc, Advanced Info Service Plc, Line Thailand, Siam Commercial Bank Plc and SCG Cement Building Materials Co Ltd to provide the service for their members.

LPN, Thai Red Cross team up

LPN Development Plc, in collaboration with the Thai Red Cross Society, is developing a condominium project, “Sawangkanives”, for the elderly at Bang Pu district in Samut Prakan province.

Facilities planned for the project include a library, communal living room, games room, swimming pool, green park and fitness centre.

Interiors of the residential units will be built with hygienic raw materials, and the bathroom will have handrails and anti-slip tiles.

“This project is tailormade for the elderly,” said Opas Sripayak, the company’s chief executive officer and managing director.

AP (Thailand) Plc is also planning a condoฌminium project for seniors in 2020, with support in design and technology from its Japanese partฌner, Mitsubishi Estate Group, after a visit to its construction sites in Tokyo last year, said Vittakarn Chandavimol, the company’s chief of corporate strategy and creation department.

“Ease of movement is the priority in designing a residential unit for the elderly. For example, there should be no tub in the bathroom as it is safer and easier for them to have a shower instead, and there should be no steps throughout the unit,” he said.

“Also, an area for family activities is needed. Even though a senior may not be able to participate, they will surely be happy to be present.”

A study by the National Economic and Social Development Board (NESDB) found that Thailand has been moving towards an ageing society since 2005 with a growing demographic of citizens aged 60 or above. It has now risen to 11.23 million, or 17.13 per cent of the population.

“Thailand will become a fullfledged ageing society in 2021 with senior citizens making up 20 per cent or 13.1 million of the population,” the report noted. Among them, those aged 70-79 and above 80, will account for 37.2 per cent and 19.1 per cent respectively, amounting to 56.3 per cent of the aged population.

According to health reports, the number of seniors needing assistance for their daily activities, such as moving around the house, eating and bathing, rose to 20.7 per cent in 2014 from 15.5 per cent in 2009. Those totally dependent on help made up 1.3 per cent of the total.

Fund to play bridge role in tech investment

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Fund to play bridge role in tech investment

Corporate May 28, 2019 01:00

By NOPHAKHUN LIMSAMARNPHUN
THE NATION

TAWAN Boonyawat, CEO of Bangkok-based Moonshot Venture Capital Co, wants to serve as the bridge between corporate Thailand and technology startups to help drive the digital transformation process.

Tawan, a former venture capital (VC) executive in the telecom industry, said Moonshot VC was initially capitalised by eight investors in multiple industries who were keen to take advantage of digital and other technologies to transform their enterprises.

The fund is worth about Bt1 billion or US$30 million, contributed by EMC and other listed firms in construction, building materials and manufacturing sectors. These medium-sized enterprises prefer to share the risks involved with VC investments.

Unlike conglomerates or other large enterprises, these firms lack the huge resources that would enable them to tap the potential of promising startups on their own, without incurring significant risk to their balance sheets.

Startups in so-called “deep techs” such as artificial intelligence (AI), robotics, material science, and drone platforms are among the targets sought for investment by Moonshot both in Thailand and in foreign countries such as Israel.

“We don’t have unlimited funding so we’re very selective and target startups that can give synergy to other investors’ businesses, such as those in construction and building materials. Our investors also have a customer base that can support the sale of innovative products and services created by the startups,” said Tawan.

“Start-ups are supposed to solve the pain points of existing businesses and their customers as in the banking and telecom sectors. The same logic is true for the manufacturing sector, whose profit margins are thinner and thinner due to unrelenting competitive pressures”

“Our mission is to discover new tools and technologies that can respond to this challenge. For example, new material breakthroughs will benefit the construction and building material sectors as will logistic optimisation technology.

“Regarding Thai startups, BUILK is one of our favourites, especially for business to business e-commerce and software as a service (SAAS) for building materials and the construction sector.”

BUILK is now in the Series A funding stage, in which a startup gets its first round of financing from a venture capital firm and the company ownership is offered to outside investors in return.

“Startups involved in property after-sale services are also interesting, as are those in asset maintenance management using predictive analytics. In manufacturing, the IoT platform for factory and machinery management using sensors and other tools to prevent failures is also promising.”

He continued, “Blockchain and tokens for enterprises also have good potential to reform banking and logistic services, substituting the use of paperwork and documents.

“For start-ups, there are multiple challenges, including the ability to evaluate performance and pain-point solutions constantly and change quickly to survive the initial stage of business.” Moonshot VC also wants to bridge the strengths of startups and established enterprises. The startups are nimble and risk-taking, while the established enterprises need to overcome internal cultural barriers to be innovative. “There is a learning curve for both sides for the ventures to be successful,” explained Tawan.

“First of all, we want to find the right startups [to match with] enterprises. The startup’s innovations can help the existing business grow and boost profits, while startup can benefit from using the business network and back office of the enterprise. Then, it’s the transformation process and the learning curve. In this effort, mutual trust is key.”

Betagro to keep focus on quality, safety

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Somsak Boonlarp, chief operating officer of food business, Betagro Group
Somsak Boonlarp, chief operating officer of food business, Betagro Group

Betagro to keep focus on quality, safety

Corporate May 28, 2019 01:00

By The Nation

BETAGRO Group, a leading food company, has pledged to continue enhancing its quality standards and the safety of its products.

Its products will be free from antibiotics, hormones and growth stimulants and certified as Raised Without Antibiotics (RWA), it said yesterday.

The company offers over 1,000 choices among ready-to-eat processed foods. A total of 8,000 tonnes of processed food will be produced from the Betagro Central Kitchen in Navanakorn Industrial Estate, Phatum Thani.

Somsak Boonlarp, chief operating officer of food business, noted that 2018 was a successful year for Betagro, thanks to three main activities. First, the company’s largest marketing campaign “Betagro Smoked Sausage” starred Pope Thanawat Wattanaputi as the first presenter. The campaign raised brand awareness for its smoked sausage by 93 per cent.

Second, Betagro continued its commitment in creating awareness and understanding among consumers about the importance of choosing safe and hygienic food through its “Food for Future” campaign. Third, the export market outlook is looking on the bright side for 2019. The company aims to increase its total export volume by 12 per cent, or 97,580 tonnes, by year’s end. The main products are frozen cooked chicken, frozen chicken and RWA certified products under S-Pure and OEM brands.