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Digital transformation underway

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ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30369246

Pete Chemsripong, general manager of ThoughtWorks (Thailand)
Pete Chemsripong, general manager of ThoughtWorks (Thailand)

Digital transformation underway

Economy May 13, 2019 01:00

By PHUWIT LIMVIPHUWAT
THE NATION

FINANCIAL technology (fintech) has taken the lead in Thailand’s digital transformation process, to be followed by e-commerce in the next five years, said Pete Chemsripong, general manager of ThoughtWorks (Thailand), a global tech-consulting firm.

“Knowledge of how new technology can re-model businesses is still limited to websites and applications,” he said.

In the past few years, we have seen the rise of financial technology and its adoptation by financial institutions and new companies, setting the first stage of a technological transformation in the country, Pete told The Nation.

But, when it comes to small and medium-sized enterprises (SMEs), there is little awareness of what digital technology has to offer in terms of improving daily operations, he said.

Pete predicts that after fintech, e-commerce would be the next technological trend, before transformation in other segments such as agriculture and education. He, however, expects the Thai public sector to lag behind in undergoing a holistic digital transformation.

With fintech leading the charge in transforming the economy, key financial institutions have been funding tech startups to strengthen the ecosystem in Thailand.

Krungsri Finnovate, a corporate venture capital (CVC) arm of Krungsri, plans to invest up to US$50 million (Bt1.577 billion) in seven tech startups this year, focusing on artificial intelligence (AI) and big data analytics, according to Sam Tanskul, managing director of Krungsri Finnovate.

One of its investments, which has been finalised, saw Finnovate teaming up with a Singapore-based startup “Silot”. The company develops QR code-payment systems and is currently working on AI to help banks streamline their operations.

Silot has already developed a QR code-payment system for Krungsri Bank while Krungsri Finnovate has so far invested $2 million in the company.

Digital Ventures, the startup investment and development subsidiary of Siam Commercial Bank (SCB), plans to invest $55 million in “deep tech” startups over the next two years.

Meanwhile, Kasikorn Vision (KVision), an investment holding company of Kasikornbank, has set aside $245 million as seed money for startups in the Asean region.

“Digital technology is the competitive advantage,” Pete said, adding, “it blurs market competition”.

For example, he said, banks nowadays do not only compete with each other for daily transactions as e-commerce and social messaging companies can also develop their own digital payment systems in direct competition with financial institutions.

“To fully capitalise on the opportunities arising from the digital disruption in the market, firms must see technology as a core issue,” he continued.

“Instead of assessing the performance of the company by departments, with the issue of technology falling only to the IT department, firms should instead assess their performance holistically, especially when it comes to technology.”

Furthermore, the rise of digital technology also allows SMEs to compete with big corporates.

“The number of franchises or branches do not matter that much these days as firms can now get in touch with their customers online and learn more about their behaviours through data analytics,” Pete said.

However, the key challenge for SMEs in the process of technological transformation is the lack of awareness and know-how in implementing changes, he contended.

Nevertheless, with the digital transformation underway, many businesses have followed the trend with a number of logistics and agricultural firms starting to use machine learning to improve their operations.

Amid growing demand from corporate clients for new technology, ThoughtWorks is striving to meet their needs.

The company will increase the number of tech consultants based in Thailand, currently 40, by 30 per cent this year.

The consulting company will also hire foreign talent to further strengthen its workforce and services, offering efficient and holistic advice to companies seeking new technology for better performance.

Myanmar woos foreign investors to ‘fast-growing’ Yangon

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http://www.nationmultimedia.com/detail/Economy/30369248

Thaung Tun, chairman of the Myanmar Investment Commission and Union minister for investment and foreign economic relations, delivers a speech at the Yangon Investment Forum 2019 on May 10.
Thaung Tun, chairman of the Myanmar Investment Commission and Union minister for investment and foreign economic relations, delivers a speech at the Yangon Investment Forum 2019 on May 10.

Myanmar woos foreign investors to ‘fast-growing’ Yangon

Economy May 13, 2019 01:00

By KHINE KYAW
THE NATION
YANGON

WITH MAJOR infrastructure and logistics initiatives being pushed, on top of being home to seven million people, foreign investors should not hesitate to invest in Yangon, officials told the Yangon Investment Forum 2019 on Friday.

Thaung Tun, chairman of the Myanmar Investment Commission and Union minister for investment and foreign economic relations, said Myanmar’s commercial hub Yangon remains attractive as the nation’s premier investment location, ensuring a level playing field for all investors.

“Yangon has been the primary driver of our growth, accounting for 24 per cent of the country’s GDP [gross domestic product] and growing at an average of 9.2 per cent annually,” he said.

“The city is expected to grow to over 10 million people by 2030. It has the country’s largest concentration of young and well-educated population.”

He expects Yangon to become a major trade and logistics hub in Asean, as it has Myanmar’s largest air, rail and sea ports, which together serve as the primary ingress point for its imports, accounting for 85 per cent of the nation’s trade.

Traffic through Yangon’s ports continues to rise with a total of 2,267 vessels calling at the Yangon Port in the last fiscal year, increasing 13 per cent over the past four years.

Yangon is also home to the Thilawa Special Economic Zone and 29 industrial zones.

“Myanmar’s investment landscape has undergone tremendous reforms in recent years, despite headwinds at home and abroad,” he said.

In order to ensure Myanmar maintains a favourable and friendly investment climate, the nation must lower the barriers to doing business as well as to eliminate challenges investors face when seeking to enter the market, he warned.

“We are pushing ahead with the establishment of a single-window system for investment facilitation,” he said.

“We have created MyCo, a new company registry platform, allowing companies to easily register online. We have digitalised much of the investment application process.”

Last year, the new Myanmar Investment Promotion Plan was launched to attract responsible quality investments. The government will ensure developing the private sector by supporting young entrepreneurs and empowering women.

“Their voices must be heard alongside more established players,” he said.

“We will continue to listen closely to the business community in order to better understand their needs and act accordingly.”

State Counsellor Aung San Suu Kyi said in a video address working together with the private sector would ensure a sustainable business environment.

“I am a strong believer in the power of collaboration to achieve Myanmar’s development goals,” she said.

She encouraged investors to consider public-private-partnership mechanisms, which could attract quality investors. She considered Yangon the “heart of enterprising Myanmar”.

Myanmar is currently developing the Project Bank, which will eventually serve as a one-stop digital information centre for strategic infrastructure projects. Upon completion, key information relating to the projects will be transparently disseminated.

“Once the development of the online database system is complete, access to key information will be available at the click of a button,” she said.

“This will enhance not only transparency but also predictability with respect to project identification and prioritisation, and will contribute towards creating a more secure investment enabling environment.”

Suu Kyi sees trade and investment as the two major drivers of Myanmar’s economic growth. She foresees a substantial increase in investment inflows into the manufacturing sector, as it accounted for 31 per cent of total investments and contributed to 24 per cent of GDP in fiscal year 2018.

“For those who are thinking of investing in Myanmar, we warmly invite you to come and invest here [Yangon], Asia’s final frontier economy,” she said.

Loved up in Ibiza

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http://www.nationmultimedia.com/detail/shopping/30369178

  • The pared-down Loewe’s T Pouch features a notched silhouette and a characteristic tbar profile. It’s priced at Bt60,100.
  • Colourful sunglasses, Bt11,950
  • Crafted from calfskin and raffia, the Puzzle Bag is the first completely new bag designed by Jonathan Anderson. It costs Bt85,200.

Loved up in Ibiza

shopping May 11, 2019 01:00

By The Nation Weekend

Luxury Spanish brand Loewe joins with Paula’s boutique for a collection of seperates and accessories that sparkle in the sun

LEADING SPANISH fashion brand Loewe brings its hot summer collection to Bangkok, offering the new Paula’s Ibiza 2019 collection at its pop-up store at EmQuartier through May 19.

The collaboration with Ibiza boutique Paula’s, its third to date, features women’s and men’s ready-to-wear and accessories and fuses bohemian coastal dressing with Paula’s playful prints.

The brand’s creative director Jonathan Anderson has perfectly captured the flamboyant spirit of the Balearic Islands and his Bohemian charm complements an iconic archive of print designs from Paula’s.

Actor Wongravee Nateetorn presents Paula’s cotton bucket hat with the Loewe cotton strap for Bt17,500 and Whale Animal Mini bag for Bt49,600

Crafted into an effortless summer wardrobe that celebrates natural fibres and a soft rainbow of sun-bleached colour, the collection employs an array of organic textures from pure linens and woven sisal to cotton linen blends, cotton crochets, terry towelling and crinkled jerseys.

New prints and graphic elements reflect an irreverent, beachside nostalgia while cartoon wallpaper prints depict an eccentric assortment of sea snakes, grapes and flowery footprints, Balearic masks and fiery suns. Elsewhere turtledoves meet Spanish mantilla combs and flamenco fans, as

cherubs frolic amongst dusty rose wallpapers. A multitude of stripes appear on nautical tops.

Accessories include technical scuba swimwear styles and beach hats in the season’s flowery prints, whilst both blankets and beach towels echo the collection’s raw textures and techniques. The collection also introduces the new Cushion Bag and the Bum Bag, perfect companions for summer outings. Loewe Puzzle, Hammock and Gate bags, meanwhile, combine calfskin with natural fibres, and new ripcord canvas plimsolls join the classic Loewe espadrilles with all-over sequins.

AP (Thailand) given ‘A-‘ rating by TRIS

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http://www.nationmultimedia.com/detail/Corporate/30369157

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AP (Thailand) given ‘A-‘ rating by TRIS

Corporate May 10, 2019 15:19

By The Nation

Thai Rating and Information Services (TRIS) has affirmed the company rating on AP (Thailand) PLC (AP) and the ratings on AP’s outstanding senior unsecured debentures at “A-”.

The ratings reflect AP’s strong market position, driven by its growing revenues and stable profitability, its sizeable backlog which secures a portion of its future revenues, and its balanced products portfolio.

These strengths are partially offset by AP’s moderate use of financial leverage and the cyclical and competitive nature of the residential property development industry.

The impact from the new loan-to-value (LTV) lending rules set by the Bank of Thailand (BOT) and a persistently high level of household debt nationwide could affect the demand for housing over the next few years.

TRIS Rating expects AP to maintain its strong market position in the next five years. The size of AP’s revenue base has ranked it fourth among the property developers listed on the Stock Exchange of Thailand (SET) over the past five years.

AP’s revenues have grown from Bt20.3 billion in 2016 to Bt27.7 billion in 2018. Its operating profit margin has been maintained at around 14-16 per cent while its pretax return on permanent capital stood at around 10-12 per cent.

The growth in revenue was driven mainly by a 35-per cent increase in its landed property segment. The operating margin (operating income before depreciation and amortisation as a percentage of revenue) was 13.8 per cent in 2018, decreasing from 15.5-17.0 per cent during 2015-2017.

This ratio dropped because the company accelerated the sales of finished units in the stock of condominium projects with a lower gross profit margin. The gross profit margin of the condominium segment in 2018 was only 29 per cent, declining from 35-37 per cent in the past three years. However, due to the higher share profit from its joint ventures (JV), AP’s pretax return on permanent capital improved to 11.2 per cent in 2018, from 10.5 per cent in 2017.

In TRIS Rating’s view, AP benefits from economies of scale, strong bargaining power with contractors and material suppliers, improving brand recognition, and accessibility to the capital market.

TMB Bank’s unsecured debentures get ‘A+’ rating

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http://www.nationmultimedia.com/detail/Corporate/30369156

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TMB Bank’s unsecured debentures get ‘A+’ rating

Corporate May 10, 2019 15:17

By The Nation

Fitch Ratings (Thailand) on Friday assigned a rating of ‘A+(tha)’ to TMB Bank Public Company Limited’s (TMB; AA-(tha)/Stable) upcoming Thai baht-denominated Basel III-compliant Tier 2 subordinated unsecured debentures.

The debenture issue will be up to Bt20 billion and have a greenshoe option of Bt10 billion. The notes will have a tenor of 10 years.

The Basel III Tier 2 notes are rated one notch below the anchor rating, TMB’s National Long-Term Rating of ‘AA-(tha)’, to reflect the notes’ subordinated status and higher loss-severity risks relative to senior unsecured instruments.

Key terms of the notes include a non-viability trigger (defined as emergency capital assistance from the central bank or any other empowered government agency), with partial rather than mandatory full write-down features.

The Tier 2 notes are senior to any Additional Tier 1 securities with loss-absorption features. If written down, the Tier 2 notes rank pari passu with TMB’s other Tier 2 loss-absorbing instruments that have write-down features.

The National Long-Term Rating is used as the anchor rating because it reflects the bank’s standalone financial strength.

Fitch believes that TMB’s standalone credit profile best indicates its non-performance risk (that is, becoming non-viable). Fitch has not applied additional notching to the notes, as they have no going-concern loss-absorption features.

TMB’s standalone financial strength, as reflected in the Viability Rating (VR), takes into account the bank’s moderate domestic franchise as Thailand’s seventh-largest bank by deposits, with a market share of about 5 per cent.

TMB’s financials have improved steadily, narrowing gaps with larger peers, particularly in asset quality. Fitch expects TMB’s financials to remain stable, despite increasing risk appetite in the SME and home mortgage segments.

Four digital TV broadcasters set to return licences

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http://www.nationmultimedia.com/detail/Corporate/30369153

Four digital TV broadcasters set to return licences

Breaking News May 10, 2019 14:33

By The Nation

Four digital TV broadcasters on Friday disclosed that they will return their digital TV broadcasting licences to the National Broadcasting and Telecommunications Commission (NBTC).

They are: Voice TV, News Network Corporation Public Company Limited, Spring 26 Company Limited (formerly known as Bangkok Business Broadcasting Company Limited), and MCOT.

Voice TV said in a statement on Friday that it had submitted the expression of intent to return its digital TV broadcasting licence to the NBTC.

The broadcaster’s chief executive officer Mekin Petchplai said that the company would continue in the broadcasting business but on other platforms, such as Youtube, Facebook, or Twitter.

He added that Voice TV would continue airing programmes on Voice TV 21 digital channel until July 31 and air programmes simultaneously on satellite TV and online platforms from July 1 to 31.

News Network Corporation Public Company Limited on Friday advised the Stock Exchange of Thailand (SET) that its board on May 9 resolved to propose to shareholders that they approve rectification for the return of the digital TV licence in the category of news programmes of its subsidiary Spring News Television Co., Ltd.

Spring News currently operates Spring News Channel 19.

Nation Multimedia Group (NMG) advised the SET on Friday that its board unanimously approval in principle on May 9 that Spring 26 Company Limited would inform the NBTC on Friday of its plan to return the licence of Spring 26 Channel.

This means the NMG will have only one digital television channel, Nation TV Channel 22, which offers programmes in the category of news and content.

MCOT also advised the SET on Friday that its board meeting on May 10 resolved to notify the NBTC of its intention to return the licence to operate MCOT Family 14 channel.

MCOT currently operates MCOT Family 14 channel and MCOT 30 high-definition (HD) channel.

Friday is the last day the NBTC has allowed companies to advise them of their decisions. Companies that return their licences will be compensated by the NBTC.

Their return of licences is in line with the relief measure offered by the National Council for Peace and Order (NCPO) last month to ease their financial burdens.

After disclosing their decision, the companies still have to continue airing programmes until their licence return is approved by the NBTC board. The board will also specify the dates when they can stop operations.

The junta relief measures also requires the NBTC to waive remaining licence upfront payments for the fifth and sixth instalments for all broadcasters.

The NBTC will also cover the network rental fee for all digital TV licence holders for the remainder of their licence term of nine and half years.

NBTC expects five licences to be returned

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http://www.nationmultimedia.com/detail/Corporate/30369151

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NBTC expects five licences to be returned

Corporate May 10, 2019 12:29

By The Nation

Five digital TV broadcasting licences are expected to be returned to the National Broadcasting and Telecommunications Communications (NBTC), the regulator’s secretary-general said on Friday morning.

Takorn Tantasith added that some broadcasters had already informed the NBTC they would return their combined three licences.

Friday is the last day the NBTC allows the broadcasters to declare their intention to return their licences.

In a related matter, the board of directors meeting of News Network Corporation Public Company Limited on May 9 resolved to ask shareholder to approve rectification for the return of the digital TV licence in the category of news programming held by its subsidiary, Spring News Television Co Ltd.

Shareholders will consider the matter at an extraordinary general meeting on July 5.

Spring News currently operates Spring News Channel 19.

The return of the licences is in line with relief measure offered by the National Council for Peace and Order last month to ease the financial burdens of the telecom and digital TV broadcast sectors.

The measures offer digital TV broadcasters the option of returning their licences to the broadcast watchdog. Those that do will be compensated by the NBTC.

Telecoms signal interest in relief measures, await next move

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Narupon Rattanasamaharn, right, Dtac’s senior vice president, presents the company’s expression of interest to NBTC deputy secretary-general Korkij Danchaivichit on Friday.
Narupon Rattanasamaharn, right, Dtac’s senior vice president, presents the company’s expression of interest to NBTC deputy secretary-general Korkij Danchaivichit on Friday.

Telecoms signal interest in relief measures, await next move

Corporate May 10, 2019 12:26

By The Nation

All three 900MHz telecom operators have submitted “expressions of interest” to the National Broadcasting and Telecommunications Commission (NBTC) indicating they want to switch to an eased-payment schedule for their licences upfront under relief measures offered by the government.

Advanced Info Service (AIS) and Total Access Communication (Dtac) submitted the expression on Friday (May 10).

True Corp filed to the Stock Exchange of Thailand on Wednesday that its 900MHz subsidiary True Move H Universal Communication Company Limited (TUC) had already submitted an expression the NBTC.

Friday was the last day the NBTC allowed the operators to do so.

The government launched the relief measure last month to ease financial burdens on the operators and digital TV licence holders.

For the 900MHz telecom operators, the relief measures require the NBTC to split their total up-front licence fee for the spectrum into 10 instalments, giving them more time for payments from the current four instalments.

However, the measures include a condition that makes it mandatory for 900MHz telecom operators who decide to take up the relief measures to purchase the NBTC’s 700MHz spectrum slots. The slots will be up for sale on June 19.

The operators can inform the NBTC that they want to take up the relief measures but can later opt not to buy the 700MHz slots. However, they would lose the extended payment facility and would have to pay as per the original payment schedule.

The NBTC will disclose the price of the 700MHz slot on May 14.

Regarding the upcoming 700MHz licence allocation, Dtac said in its expression of interest that the spectrum allocation should be delayed until NBTC can publish a clear spectrum roadmap, before discussing any further auctions.

Dtac will nevertheless study the 700MHz licence terms and conditions from the information memorandum expected to be announced by the NBTC this month.

“We think new spectrum allocation should be delayed until NBTC can publish a clear spectrum roadmap, including time for allocation and fair valuation of available spectrum, before discussing any further auctions,” said Rajiv Bawa, Dtac’s chief corporate affairs & business development officer.

Regarding the 700MHz licence sales, True said on Wednesday that TUC has to consider all relevant factors in every facet carefully, especially on the details of the criteria for the 700MHz frequency spectrum sales.

TUC will further consider the matter and proceed as it deems appropriate after receiving clear conditions on the criteria for the spectrum allocation.

Under the original terms, AIS subsidiary Advanced Wireless Network (AWN) and TUC are scheduled to pay hefty final instalments of Bt59.574 billion and Bt60.218 billion, respectively, for their 900MHz licences in 2020.

Dtac subsidiary Dtac TriNet will pay its final instalment for the 900MHz of Bt30.024 billion in 2022.

Amata gets IFC backing in sustainability push

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Lena Ng, left, chief investment officer of Amata Corporation Plc, and Vikram Kumar, IFC country manager of Myanmar and Thailand, sign an agreement backing their cooperation.
Lena Ng, left, chief investment officer of Amata Corporation Plc, and Vikram Kumar, IFC country manager of Myanmar and Thailand, sign an agreement backing their cooperation.

Amata gets IFC backing in sustainability push

Corporate May 10, 2019 01:00

By THE NATION

THE INTERNATIONAL Finance Corp (IFC) will work with Amata Corp, a provider of smart cities and industrial zones, to develop sustainability projects in Thailand and the broader Mekong region.

The industrial sector in Thailand, Cambodia, Laos, Myanmar and Vietnam contributed 32.3 per cent of the region’s GDP in 2017 and provided an estimated 20 per cent of the employment, said the IFC, the private-sector arm of the World Bank.

It said that industrial zones provide a good platform for supporting interventions for green buildings, clean energy, energy efficiency and climate-smart water and waste infrastructure. The proximity of multiple co-located tenants also provides opportunities for green energy, innovative wastewater treatment and other “circular economy” projects that effectively use valuable resources.

Implementation of such sustainability projects can help zones follow an environmentally less destructive growth path and transition towards eco-efficiency consistent with national government priorities.

“We welcome this partnership, which is timely and will help us strengthen our market position as a leading developer of sustainable smart and eco cities and townships that promote green growth,” said Lena Ng, chief investment officer of Amata Corporation Plc, after the company signed the enabling agreement with the IFC. “Further, IFC will bring in a wealth of knowledge about global best practices as well as technical and industry expertise to this partnership. This will enable us to create sustainable, eco-efficient smart cities and townships in Thailand and the Mekong region.”

As part of the memorandum of understanding, which was signed yesterday, IFC and Amata will identify projects for co-investment opportunities and encourage the use of sustainable energy, water, and waste solutions for buildings and infrastructure in existing and new smart cities, industrial zones and townships. They will further raise awareness on green growth and promote sustainable design practices in selected zones in Thailand and the Mekong region.

“As a sustainability pioneer, IFC has extensive experience in developing eco-efficient zones, including in the green buildings space. We are creating markets and supporting climate-smart investments by promoting new regulations and standards, business models and financing mechanisms,” said Vikram Kumar, IFC country manager for Myanmar and Thailand.

“Collaborative partnerships such as this can help decouple economic from environmental growth while promoting a sustainable private sector,” he said. “Together with Amata, we expect to further build capacity for eco-efficient smart cities zones, green buildings, and climate-smart infrastructure by developing bankable investment projects.” The IFC supports greater private-sector investment in green buildings and sustainable development. It has a green building portfolio of more than $4.5 billion (Bt143 billion), which includes its own direct investments and mobilised financing. IFC aims to achieve green building market transformation in a growing number of countries through its Excellence in Design for Greater Efficiencies (EDGE) certification system and |the Green Urban Development (GUD) tool.

Vietjet’s international revenue reaches 55% in Q1

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Vietjet’s international revenue reaches 55% in Q1

Corporate May 09, 2019 16:33

By The Nation

Vietjet launched four international routes in the first quarter of this year, increasing the number of routes to 111.

The proportion of international revenue surpassed domestic revenue and reached 55 per cent of the total air transport revenue.

Vietjet operated 33,646 flights in the first quarter of 2019 on its flight network, covering destinations in Vietnam and Japan, Singapore, South Korea, Thailand, Myanmar, Malaysia, Cambodia, China, Dubai and Doha.

Vietjet’s core revenue from air transport in this year’s first quarter reached over Bt13.7 billion, an increase of nearly 28 per cent, of which ancillary revenue reached Bt3.6 billion, up 45 per cent year on year.

The proportion of ancillary revenue (having a high-profit margin) in air transport revenue continued to increase from 23.1 per cent in QI/2018 to 25.4 per cent at the end of 2018 and reach to 26.3 per cent at the end of QI/2019.

As a result of exceeding its expectations, for 2018 Vietjet paid a dividend at the rate of 55 per cent, 5 per cent higher than the rate of 50 per cent approved at last year’s shareholders’ meeting.

With good business results, regional and international flight network expansion plan as well as cost management, operation quality management abilities, Vietjet expects to keep positive growth in the three key targets reported to the shareholders’ meeting.