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https://www.nationthailand.com/business/pr-news/40018833

Electricity Generating Public Company Limited or EGCO Group announced continuous growth in the second quarter of 2022 with 3,219 million baht operating profit.

Recently, the company has successfully completed the constructions of the “Nam Theun 1” hydropower project and the Extension of Petroleum Pipeline System in Northeastern project “TPN” which will shortly start commercial operations and recognize income.

Thepparat Theppitak, EGCO Group’s President, said, “Our operations in Q2/2022 have progressed well as planned. Despite continuous fuel price increases due to the Russia-Ukraine war, EGCO Group has continuously managed the fuel cost to achieve the highest possible efficiency level in our electricity generation activity”.

Other significant milestones in the second quarter to date are the financial agreement signing to secure financial support for the “EGCO Cogeneration SPP Replacement” project with a 74 MW net capacity in Rayong province, and the complete construction of two projects – “Nam Theun 1” hydropower project with an installed capacity of 650 MW in Lao PDR and the Extension of Petroleum Pipeline System in Northeastern project “TPN” in Saraburi-Khon Kaen province. The two latter projects are ready to start commercial operations and immediately recognize income.

The company also announced strong operating performance for Q2/2022.

The total revenue in this quarter was 15,217 million baht, an increase of 48% compared to the same period last year. The operating profit was 3,219 million baht, an increase of 17% year on year.

Key factors contributing to the robust performance are the stronger performance of the “BLCP” power plant and “Nam Theun 2” hydropower plant as well as income recognition from investment in “APEX Clean Energy Holdings” in the US. When considering operating performance in the first six months, the company reported 7,391 million baht operating profit, 53% higher than the same period last year.

As for the first half of 2022, the company booked a net profit of 3,339 million baht, an increase of 59% compared to the same period last year. However, the financial performance for Q2/2022 was affected by the conversion of foreign currency liabilities into Thai baht due to the weaker baht and the impact of the change in the fair value of financial instruments. However, both items have no impact on cash flow and business operations.

For the investment direction in the second half of this year, Thepparat stated, “EGCO Group continues to seek new investment opportunities. Based on our “Cleaner, Smarter and Stronger to Drive Sustainable Growth” concept, EGCO Group will focus on the expansion of the electricity generating business, which is a mid-stream business, in the areas where we already have a business presence, especially in the US. We will also focus on growing our fuel and infrastructure business through the “TPN” project operations.

In terms of electricity innovation and the new S-Curve business,     we have invested in “Innopower”, which will strengthen our competitive advantages, and drive EGCO Group to become a low carbon company and create sustainable growth in the future. 

Published : August 12, 2022

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/pr-news/40018831

Thanachart Capital Public Company Limited (TCAP) announces second quarter 2022 performance with the continuous growth of performance of associated companies and subsidiaries

Net profit according to the consolidated financial statements amounted to 2,122 million baht, of which the net profit attributable to the Company was 1,772 million baht, an increase of 71.04% from the previous quarter.

On the other hand, net profit for the first half of 2022 increased by 28.51% from the same period last year, thanks to the continuous growth of performance of the Company’s associated companies and subsidiaries.

Somjate Moosirilert, Chief Executive Officer of Thanachart Capital Public Company Limited (TCAP), said, “Net profit of the Company and its subsidiaries in the second quarter 2022 based on consolidated financial statements amounted to 2,122 million baht. In this connection, net profit attributable to the Company was 1,772 million baht, representing an increase of 71.04% when compared to the previous quarter. On the other hand, net profit of the Company and its subsidiaries for the first half of 2022 based on the consolidated financial statements was 3,512 million baht “

Net profit attributable to the Company was 2,808 million baht, representing an increase of 28.51% when compared to the same period in the previous year. This is mainly due to the continuous growth of the performance of the Company’s associated companies and subsidiaries.

The associated companies including both TMBThanachart Bank (TTB) and MBK achieved better performance, thanks to the continuous expansion of the economy due to the positive situation of the Omicron variant of Covid-19, which was improving, apart from the tourism recovery caused by further easing of international travel restrictions.

As regards the subsidiary Ratchthani Leasing (THANI), net profit increased by 8.13% when compared to the previous quarter, thanks to the healthy expansion of hire purchase loans for trucks as well as the efficient control of asset quality.

In relation to Thanachart Insurance (TNI), net profit increased by 3.11% when compared to the previous quarter. TNI’s premium received in the first half of the year was in line with the established target.

With regard to MBK Life Assurance whose name was already changed to T Life Assurance, net profit increased by 67.96% when compared to the previous quarter, mainly due to the reverse of the assurance reserve in line with the Gross Premium Valuation (GPV) methodology as a result of the inverted zero-coupon yield curve.

Meanwhile, T Life Assurance continued developing life assurance and financial products. In regard to Thanachart Plus (T-Plus), it achieved satisfactory performance with gradual growth. Outstanding loans amounted to about 3,600 million baht. And, by the year-end, outstanding loans were expected to exceed the established target of 4 billion baht.

On the other hand, non-performing loans remained at zero level, thanks to cautious and efficient risk management.  Nevertheless, the Thai capital market was faced with decreasing trading volume as well as stock price volatility.

As a result, net profit of Thanachart Securities (TNS) decreased by 39.20% when compared to the previous quarter.  Although the profit decreased somewhat in line with the unconducive market conditions, income other than brokerage commission grew healthily.

Among others, this included fee income from ZEAL (portfolio advisory services) and interest income from margin loans. Therefore, the performance achieved was still in line with the established target.

In the second half of 2022, the economy is likely to be faced with not only inflationary pressure due to price increases in energy, raw materials, and foods but also a potential hike in the benchmark rate. 

” However, the Thai economy is expected to continue growing, thanks to the drivers of all sectors. This will positively contribute to the continuous growth of the performance of the Company and its subsidiaries,” Somjate said.

Published : August 12, 2022

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/pr-news/40018827

The Department of International Trade Promotion (DITP), Ministry of Commerce, Thailand will organize Asean’s comprehensive logistics virtual exhibition entitled “TILOG VE 2022” during August 24-26, 2022.

The exhibition is providing a platform for Thai logistics service providers to connect and trade with global logistics entrepreneurs and buyers/importers.

First time ever, TILOG VE 2022 participants will have the opportunity to experience logistics virtual exhibition and online business matching all in one place.

They will be in the front row seats to discover and have the access to leading Thai logistics brands. More than 50 companies have committed to showcasing their most cutting-edge technology and innovative products/ services.

This event will be featuring 5 categories namely Material Handling, Packing, Warehouse & Loading, Logistics IT & E-Logistics, and Transportation & Logistics Service Providers.

TILOG Virtual Exhibition responds to the policy of Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit promoting clusters of services especially services of logistics providers.

“Since The immense success in 2021, DITP has continuously planned and hosted activities for business matching and building long-term trading relationships between Thai and international logistics providers. Hence, TILOG VE is considered to be the most influential logistics trade event that gathers logistics key players together and creates an opportunity for the logistics industry. This leads to the theme ‘Connecting Asean to the World’ for expanding the market channel for both Thai and international logistics products and services,” Phusit Ratanakul Sereroengrit, Director-General of DITP said.  

DITP is now ready to cordially invite all interested attendees, supply chain operators, importers, buyers and potential logistics operators all over the world to connect with outstanding Thai logistics service providers.

Grow your business and stay connected at TILOG VE 2022. Registration is available at http://www.tilog-ve.com. For more information please contact the Thai Trade Center in your area.

Published : August 12, 2022

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/pr-news/40018819

Unveiling a tough life of a single mom and a powerful love of a grateful daughter that shows the loving bond between a “mother” and her “child” is truly powerful that cannot ever be replaced by anything else.

It is true love that drives one to battle through hardships with a will to sacrifice their own happiness for the best of the other.  

To celebrate this Mother’s Day, Grab would like to share the inspiring stories of two strong Grab drivers – Srisamhorn “Mhorn” Charoensuk, a single mom who would do anything to secure a bright future for her children, and Suchitra “Oi” Prajprueng, a grateful daughter who works tirelessly to take care of her disabled mom.

Their heartwarming stories reflect the infinite power of love that will touch the hearts of every mother and child this Mother’s Day. 

A fighter mom who devotes her entire life to “a bright future for her daughter”

Srisamhorn “Mhorn” Charoensuk, a 57-year-old mother of two from Chiang Rai, shared her story as a single mom who started raising her youngest three-year-old daughter on her own that she used to sell Thai desserts to earn a living.

All was good until all the burdening family expenses forced her to borrow from a loan shark, which later brought her into great debt.

Her daily income became only sufficient for her family to survive as the day goes by. 

The turning point began when the COVID-19 pandemic hit, income from selling desserts went down significantly and it was the same time as when her youngest daughter required money to attend university.

“I was so happy and proud of my daughter when she got accepted to Chiang Mai University majoring in Animation and Visual Effects. At the same, the pressure of the foreseeable expenses weighed me down immensely. The student loan alone was not enough to cover all expenses. I was struggling with the dwindling earnings I got from selling the desserts. As a mom, I could not give up my children’s future because it is the most important thing. I saw Grab drivers riding on the street and thought to give it a try,” She said.

After working as a Grab driver and the earnings from Grab surpassed those from selling desserts, Mhorn turned to work for Grab full time.

With GrabBenefits and GrabFinance for drivers, she was able to pay off her debt from the loan shark, finance her daughter’s university tuition fee, start collecting savings, and, most importantly, get to spend more time with her daughters.

“My daughter will graduate in the next few months. To be able to support my children on their chosen path and see them doing things that make them happy is my proudest moment as a mom,” She said. 

” Driving with Grab allows me to live comfortably. From regularly borrowing money from a loan shark, today I earn enough money and have time to spend and eat delicious foods with my daughters. I would not trade this kind of happiness with anything else,” Mhorn closed the sharing session with a smile on her face.

“A mom’s smile” is a precious joy 

Suchitra “Oi” Prajprueng, a 39-year-old grateful daughter living with her 80-year-old mom who is a psychiatric patient and disabled.

From a young age, she recalled that her mom has always suffered from psychiatric disorders. She cared for her mom before and after school while her dad provided for the family.

Her dad passed away when she was in Grade 11. She then fought through until graduating high school and chose not to pursue higher education to start working and providing for her mom. 

Their lives continued ordinarily until three years ago when Oi’s mother fell and broke her bone. She underwent surgery but due to osteoporosis, she could no longer walk.

“Earlier, even though my mom suffers from mental illness, she could still manage around, feed herself, and do shores. She even did my laundry. Since she could not walk, I needed to find another job where I can have more time to care for her. I have tried working different jobs but none is as flexible as being a Grab driver. Due to her unstable conditions, I needed a job where I can manage my own time. Grab gives me this flexibility and allows me to come home and have dinner with my mom every day,” she said.  

Growing up in a challenging situation with her mother has shaped Oi to be optimistic. She was able to overcome the pity of others with her mother as the main source of moral support. “My mom constantly talks to herself and cannot control her emotions. Some days she can be unstable and throw a tantrum. I have to be ready to meet every version of her. It seems like I have to solely take care of her but she does care for me as well. She even enjoys doing shores now too. 10 years ago when I was having a hard time, she encouraged me by saying ‘It is okay, we can start anew,’ it may seem like a simple sentence for most but for a psychiatric patient like my mom, this ability to think logically does not come by often. This sentence has become a reminder of mine until today.”

Before wrapping up the sharing session, Oi revealed her intention for this year’s Mother’s Day:

“This year I intend to borrow upfront cash from GrabFinance to get a wheelchair for my mom. The loan has a daily instalment plan which is very fitting for me as I drive Grab every day. I want to take her on a trip to dine out together. It may not be an exciting activity but it gives us great joy. To see my mom smile is something that I truly live for,” Oi ended the session with a smile of a proud daughter.   

What these two stories share in common is the willpower to fight through any life challenges and find their kind of happiness. It could be the happiness of raising children to become good citizens and follow their dreams or the happiness of being a daughter who provides, with gratitude, a good life for her mother.

This Mother’s Day, Grab would like to cheer up every mother and child who is going through hardship to never give up, just like Mhorn and Oi, the two Grab female warriors/drivers who tackle every challenge with a beautiful smile.

Published : August 12, 2022

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/pr-news/40018817

Bangchak and the Royal Forest Department are distributing 9,000 Seedlings from 9 Tree Species at 9 Bangchak Service Stations and 9 Inthanin Shops, celebrating 90th Birthday of H.M. Queen Sirikit, the Queen Mother.

Somchai Tejavanija, Chief Marketing Officer and Senior Executive Vice President, Marketing Business Group, Bangchak Corporation Public Company Limited and Wanchai Jariyasetthachok, Deputy Director General, Royal Forest Department, along with executives from Bangchak and the Royal Forest Department invite the public to receive seedlings from the  “Punsook Urban Greenery” campaign to plant 9,000 seedlings from 9 tree species to celebrate the 90th birthday of Her Majesty Queen Sirikit, the Queen Mother, and Mother’s Day in Thailand.

The Royal Forest Department procured the seedlings and will use Bangchak properties, 9 Bangchak service stations and 9 Inthanin locations, to distribute the seedlings to the public to sustainable enhance green spaces, from 10 – 12 August 2022; limited to no more than 2 seedlings per person.

The 9 different seedlings of shade-providing perennial species, namely Siris (Albizia lebbeck), Indian Gooseberry (Phyllanthus emblica), Indian Trumpet Tree (Oroxylum indicum), Wishing Tree (Cassia bakeriana), Trumpet Tree (Dolichandrone serrulata), Silver Trumpet Tree (Tabebuia aurea), Tree Jasmine (Millingtonia hortensis), Freshwater Mangrove (Barringtonia acutangula), and Java Plum (Syzygium cumini) were cultivated at the plant nursery in Samut Prakarn Province, and will be distributed at 9 Bangchak service station locations, namely, Vibhavadi Rangsit, Srinagarindra, Ratchaphruek 2, Kaset-Nawamin, Bang Bua Thong, Kanchanapisek KM.19, Chonburi, Saraburi, and Nakornpathom.

The 9 Inthanin locations distributing the saplings are KU Green (Kasetsart University), Bangchak Ram Intra KM.9 (Outbound), Vorravut Suksa School, Triumph Rangsit, Khlong Ha Pha Charoen, Faculty of Engineering, Thammasat University, Rangsit Campus, Ang Sila, Baan Kao 5 Road Amata Nakorn, and Soi Luang Por Tho, Bangphli.

Published : August 12, 2022

By : THE NATION

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https://www.nationthailand.com/pr-news/business/pr-news/40018815

The business mega-trend of the last 30 years, and likely the next 30 years, is the steady encroachment of technology and software into every human endeavor. The COVID-19 crisis has accelerated this trend, with in-person services abruptly eclipsed by digital competitors.

Indeed, the view of software as residing squarely in the technology industry is rapidly becoming antiquated. No surprise, then, that the rise of software is manifesting itself in the mergers and acquisitions market. Many call it “convergence.”

Convergence occurs when established, non-technological businesses innovate and compete by embracing software, internet and mobile connectivity, and the use of data to improve their operations, product offerings and how they interact with employees, suppliers and customers. The pace of technological change is such that few corporate leaders are attempting to build these capabilities internally— instead they are buying companies that already have them.

In years past, companies largely fueled growth by buying competitors; in other words, companies that looked a lot like they did. The bolder M&A moves involved what can rightly be termed convergence, but this usually meant acquiring companies specializing in an adjacent subsector within the same industry—a manufacturer of computers buying a manufacturer of printers, for example.

In Thailand, “digital convergence acquisitions or investments” are also picking up pace. Most transactions could be defined as relatively intuitive investments such as SCB 10x’s investment in SYNQA, a fintech solutions and product company or CP Group’s Series C funding of Ascend Money, it’s own subsidiary and the owner of TrueMoney. 

However, bolder and more transformative transactions are also appearing, the acquisition of 42.25% in Intouch Holdings Plc., a holding company which focuses on telecommunications and the digital sector, by Gulf Energy Development Plc., a holding company whose core businesses are power generation, utilities & infrastructure, is the most poignant example to date.

Varun Budhiraja, a principal with Deloitte Consulting LLP, says that these acquisitions are not simply exercises in technology upgrade, but they attempt to change business models. “Many traditional product-based businesses are now looking at completely new ideas,” he says. “They are trying to find ways to add software, data, and connectivity to ultimately serve their customers’ needs, own the customer experience, and—therefore—expand the revenue stream.”

In most cases the acquired tech companies often have very different business models and cultures, giving rise to an unprecedented, exciting, and risk-fraught era in M&A. As with any atmosphere of excitement and change, those who chase this trend without a solid strategy may make big mistakes.

Most corporate leaders understand the need to innovate to meet disruptive threats head on. They also know that making acquisitions of smaller, software-focused businesses is an effective way to do it. Done right, it can unlock tremendous value. And yet, unsurprisingly, there are many ways to converge unsuccessfully.

Strategic and commercial mismatch: Business leaders should have a view of the precise value propositions justifying a tech acquisition whether it be to enhance efficiencies or how it adds value to customers. Another area of critical clarity is on how value will be created from the acquisition or the combination – what is needed to provide an environment where that value can be created?

Misunderstanding the technology: In acquiring companies in the fields of software, big data, the cloud, etc., some buyers are usually well outside their area of expertise. How to conduct a technology assessment and how to truly understand the assets are very important and a different challenge than many companies are used to.

Moving too fast: The classic private equity playbook for a “100-day plan” to jump-start post-acquisition transformation is not sufficient for a convergence deal. Integrating the operations of very different companies is going to be more complicated and take longer.

Underestimating culture clash: The integration of two company cultures, even within the same industry, can present challenges. Grafting a smaller, software-driven company onto a larger corporation can be much more difficult and, if done poorly, can drive precious human capital out the door. The risk of alienating the very people whose valuable skills and networks the organization just bought often means it’s a good idea to not seek cultural integration, at least at the outset of the merger. Think of it as incubation before integration.

IT security: Integrating software, connectivity, and/or data capabilities into a business comes with enormous new security issues, and corporate leaders who have not previously faced this new level of cyber risk should seek help in addressing it.

By Asadej Kongsiri, Partner and Financial Advisory at Deloitte Thailand

Published : August 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/pr-news/40018806

Deputy Prime Minister Gen Prawit Wongsuwan on Wednesday (August 10) presided over the opening ceremony of the activities to celebrate the 90th birthday of Her Majesty Queen Sirikit the Queen Mother on August 12, 2022 at Queen Sirikit Botanic Garden in Chiang Mai’s Mae Rim district.

The activities were organised by the Ministry of Natural Resources and Environment with the main highlight being the exhibition “90th Anniversary of the Mother of Biodiversity Protection,” which will run until the end of the year to celebrate HM Queen Sirikit’s works and to promote public awareness in natural resource conservation.

During the opening ceremony on Wednesday, Prawit was welcomed by Natural Resources and Environment Minister Varawut Silpa-archa, ministry permanent secretary Jatuporn Buruspat, and Chiang Mai deputy governor Worawit Chaisawat.

Varawut said that he has tasked all agencies under the ministry to organise activities to celebrate the Queen Mother’s birthday at 44 locations nationwide. The project aims to show appreciation to royally initiative projects that have helped conserve the country’s natural resources and biodiversity, as well as to boost public awareness and participation in natural resource conservation and rehabilitation of Thailand’s biodiversity and ecosystem. 

He added that the exhibition “90th Anniversary of the Mother of Biodiversity Protection” will feature Her Majesty Queen Sirikit’s biography, her royal projects in the fields of natural resources and environment, and her travel both in Thailand and overseas, including her nine visits to the botanic garden. Visitors will also learn about attractions within the botanic garden from this exhibition, including the greenhouse complex, the museum of natural history, the Canopy Walks nature trail and dinosaur statutes.

Published : August 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/pr-news/40018804

Prayudh Mahagitsiri carried out the auspicious ceremony of worship and held Buddhist prayers to commemorate the opening of Teak Carbon Co., Ltd. in Petchaboon province. His aim is to encourage more green areas in Thailand thereby caring for the environment and simultaneously entering the teak business by exporting teak products in the near future.

At 9:48am on the 9th of August 2022, Mr. Prayudh Mahagitsiri Chairman of PM Group Company Limited and a major shareholder of Teak Carbon Co., Ltd. together with his family carried out the auspicious ceremony of worship at the Teak Carbon plantation that is located in Vichienburi, Petchaboon province. The ceremony was to bring good luck and prosperity to the company. It was attended by many local and VIP guests including the district chief of Vichienburi and former Governor of Bangkok.

After the ceremony, Prayudh and his family planted teak saplings to mark the opening of the new company. Prayudh, a farsighted magnate and industrialist also encouraged the Thai people to plant one tree each, hence 70 million trees would be planted. 

The total area of the plantation covers approximately 2,750 rai (approx.1,100 acres) and most of the trees are over 30 years old. In total there are around 150,000 teak trees but many more will be planted soon.

Prayudh Mahagitsiri said that he saw the importance of the Teak Carbon plantation and reforestation was the best way to deal with environmental, climate change issues and it was the best way to go green. Furthermore, the teak trees were part of the first phase of the future teak business.

He also mentioned that teak trees are very valuable and hard to find and at the plantation they would be planting teak trees consistently, so that people would be aware that the best teak is available in Thailand. In fact, 75% of the teak available in Thailand is ‘golden teak’, whereas its neighboring countries only have around 25% of ‘golden teak’. He shared that the longest-living teak tree in the world is in Uttaradit and is over 1500 years old, so this was a clear sign that the best teak is and has been available in Thailand for a long time. 

Prayudh Mahagitsiri shared his vision about teak plantation, Teak Carbon Co., Ltd. “The plan is to expand the project to 3,500 rai (approx.1,400 acres) and then to 5,000 rai. (approx. 2,000 acres)” 

Published : August 11, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/pr-news/40018800

TTCL joins hands with Blackwood Technology, investing in prototype plant for biomass pellet with FlashTor® innovation for the first time in Thailand.

Nishida Kazuya, Ambassador of Japan to Thailand, presided over the opening ceremony of the biomass pellet prototype plant with “FlashTor®” innovation for the first time in Thailand.

Hironobu Iriya, Chief Executive Officer and President of TTCL PCL., and Maarten Herrebrugh, Chief Executive Officer of Blackwood Technology, welcomed the Ambassador, as well as representatives from the Ministry of Energy, the Ministry of Natural Resource and Environment, partner organizations, and customer groups.

This prototype plant was developed to produce and enhance the quality of biomass pellet fuels in Thailand with a torrefaction process called FlashTor®, patented by Blackwood Technology.

This is another effort to improve the quality of biomass pellets produced in Thailand and promote clean energy production from agricultural waste.

By reducing the use of coal and fossil fuels, the new technology will help strengthen the competitiveness of the Thai business sector with green production and low-carbon products.

Published : August 11, 2022