Finance Ministry to boost tourism with Bt1,500 payment to domestic travellers

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30368109

File photo : Deputy Prime Minister Somkid Jatusripitak
File photo : Deputy Prime Minister Somkid Jatusripitak

Finance Ministry to boost tourism with Bt1,500 payment to domestic travellers

Breaking News April 22, 2019 12:17

By The Nation

3,420 Viewed

The Finance Ministry had announced plans to launch a new stimulus package to boost the country’s domestic tourism business by giving Thais Bt1,500 per person to spend when they travel to 55 provinces under the promotion campaign, a source from the Finance Ministry said.

Under the campaign, Thais aged 18 and over can register for the programme. The government will then deposit Bt1,500 into their accounts though the e-payment system. They can use the funds to make e-payments to the shops that have joined the project.

“We are collaborating with the Tourism and Sport Ministry and Krung Thai Bank for the campaign and have set a budget of up to Bt15 billion. We will now propose the programme to deputy prime minister Somkid Jatusripitak to consider and to the cabinet as soon as possible. We aim to launch the campaign before July this year,” a source from the Finance Ministry said.

The ministry expects up to 10 million Thais to register, he added.

Gateway shopping centre responds to influx of new residents as Bang Sue goes upscale

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Real_Estate/30368065

Gateway shopping centre responds to influx of new residents as Bang Sue goes upscale

Real Estate April 22, 2019 01:00

By Somluck Srimalee
The Nation

Following the number of residential projects launched in the Bang Sue-Tao Poon zone, Asset World Corporation Co Ltd invested Bt4 billion in its latest shopping centre, Gateway at Bangsue Shopping Centre, last November.

The project covers over 10 rai (1.6 hectares) and boasts a utility space of over 95,000 square metres spread over 11 floors, a parking space for 1,100 cars and a rental space of 39,000 square metres – enough for around 400 stores.

Asset World Corporation is the retail and commercial business property arm of TCC Group, which is owned by beverage tycoon Charoen Sirivadhanabhakdi.

The company decided to open its shopping centre in this location following the rapid increase in the number of people moving to the area due to the large number of new residential projects in recent years, said Napat Chareonkul, head of the retail group of Asset World Retail and manager of Gateway at Bangsue Shopping Centre.

Company research discovered that the population had grown to over 606,000 people within the 56 kilometre radius of the shopping centre’s location, with people spread over five districts in north Bangkok – Bang Sue, Dusit, Bang Phlat, Chatuchak and Phya Thai – as well as the two districts of Nonthaburi city and Bang Kruay in Nonthaburi province.

These residents also possess high purchasing power, at approximately Bt70,000 in monthly household income. As an ever-growing traditional trade centre of north Bangkok, Asset viewed the area as a thriving business hub exploding with opportunities for the company to develop a retail business.

In particular, the district of Bang Sue is a strategic location for commerce and a vital business centre in north Bangkok, surrounded by important places and various economic resources. These include 14 government agencies, the new parliament buildings where people will make contact with the many government agencies daily and over 10 nationally well-known office buildings each with tens of thousands of employees who are also high-spending shoppers. As well, there are 23 prestigious schools and universities, five large hospitals, and 30,000 units in 18 housing projects by leading real estate companies.

In addition, Bang Sue has been designated Thailand’s largest transportation hub and is set to become a new Central Business District (CBD) within Bangkok. The development of the Bang Sue central railway station will serve as a model for planned neighbourhoods around other railway stations including high-speed stations, and further increasing the draw to the area’s real-estate projects and make it easier to promote.

Together, these are strongly positive signs for both residential and commercial projects, and with higher traffic in the area, is also ideal as a shopping centre location, Napat said.

“Following the new environment that is changing Bang Sue into a new shopping destination, we expect to recover our investment within seven years after we opened last November,” Napat concluded.

Station overhaul to lead the way

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http://www.nationmultimedia.com/detail/Real_Estate/30368062

Station overhaul to lead the way

Real Estate April 22, 2019 01:00

By Somluck Srimalee
The Nation

The State Railway of Thailand’s project at Bang Sue is spearheading a massive transport, residential, commercial development that will forever change the station’s district and north Bangkok

The Bang SueTao Poon location has become the latest destination for residential property developers in view of the State Railway of Thailand’s (SRT) master plan to develop the Bang Sue Grand Station into a mixed-use complex.

Private sector bids will be called to turn the 2,325-rai (372-hectare) site into a new residential/commercial/transportation hub in Bangkok.

A survey by the Real Estate Information Centre of the Government Housing Bank found that land prices in the area increased 38.5 per cent in the first quarter from the same period last year, due mainly to developers acquiring land around the location.

Land prices in the area show higher growth than other locations. For example, land costs in Hua Kwang-Chatuchak-Din Daeng rose 30.2 per cent in the first quarter from the same period last year, while a 24.3 per cent increase was recorded on Sukhumvit road and Nonthaburi-Pak Kerd saw an increase of 16.3 per cent. Also, a 12.9 per cent rise was reported in the price of land alongside the Airport link route from the first quarter of last year.

Meanwhile, SRT is expanding Bang Sue-Tao Poon into the country’s largest mass-transit hub, with a 2020 expected completion, said Knight Frank Thailand’s latest research report.

The location will also become a new business centre in Bangkok, especially since it connected the MRT Blue Line at Bang Sue station with the Purple Line at Tao Poon station at the end of 2017.

The link boosted the attractiveness of the residential area in Bang Sue-Tao Poon, which will be further augmented with plans to develop over 300 rai (48 hectares) of land around the station with a transit-oriented development of mixed-use projects, the report said.

In terms of condominium development in Bang Sue-Tao Poon, there were 30,200 units in the total accumulated supply with an accumulated takeup rate of 90 per cent from 2009 to the end of 2017.

The current average selling price per square metre for grade-A condominiums in the area stands at Bt117,000 per square metre, with the highest at Bt134,000, according to the research.

Meanwhile, the Transport Ministry estimates the cost for infrastructure development at Bt150 billion under the master plan (2019-2024) for Bang Sue Grand Central Station.

Funds from the private sector would flow into projects ranging from commercial buildings, a sports complex, and an international exhibition centre to residential estates, said Transport Minister Arkhom Termpittayapaisith.

Development of the 2,325-rai site will be split into three phases. In the first phase, Bang Sue Grand Central Station and commercial, office buildings will be integrated with the transport system from 2017 to 2024.

Then a centre will emerge to serve the meetings, incentives, conferences and exhibition (MICE) sector, a sports complex, as well as retail, office and residential projects around the station from 2024 to 2029.

Under the third phase, more housing projects will be built from 2029 to 2031.  All structures will come under the theme of Smart City and Green Complex.

The master plan, drafted by the Transport Ministry and its Japanese adviser, will see the Bang Sue Grand Station area becoming the next central business district (CBD) in Bangkok, rivalling Sukhumvit and Silom. The station will be a key link in Bangkok’s mass transit system, serving all existing rail systems (BTS Skytrain, the MRT, and the Airport Rail Link) as well as the 10 planned rail networks and three high-speed routes – Bangkok-Nong Khai, Bangkok-Chiang Mai, and the high-speed service linking Suvarnabhumi, Don Mueang, and U-Tapao international airports.

The mega-project comprises seven zones, covering 2,325 rai in the Bang Sue district:

l Zone A will house a 32-rai Smart Business Complex;

l Zone B will be the site of an Asean Commercial Business Hub, incorporating retail and office space;

l Zone C will see the development of the meetings, incentive travel, conventions, exhibitions or MICE Super Arena and Exhibition centre and the sport complex;

l Zone D will cover Chatuchak park and Chatuchak Weekend Market on 83 rai;

l Zone E will be for public and state agency offices;

l Zone F will host a shopping mall; and

l Zone G will be a residential area covering 360 rai.

 

The Smart Business Complex in Zone A will be the first project to open for private-sector bidding. SRT will set the terms of reference (TOR) and invite private sector bids by the end of this year.

Meanwhile, a survey by The Nation found 15 condominium projects have been launched in Bang Sue-Tao Poon area, offering a total of 15,566 units worth Bt34 billion and priced between Bt2 million and more than Bt4 million per unit.

Among these project is the Chiwathai Residence Bang Pho by Chewathai Plc. It has 172 units, priced between Bt4.19 million and Bt4.6 million per unit, of which 70 per cent have been sold.

Others include the U Delight Bang Sue Station by Grand Unity Development Co Ltd. All 645 units of the project have been taken up.

The 1,319-unit Metro Sky Prachachun by Property Perfect Plc is another development recently launched in the area. Priced from Bt1.9 million to Bt2.6 million per unit, 70 per cent of the project has been sold.

“Most of these projects have been successful, thanks to the development plan of the Bang Sue Grand Central Station,” said Knight Frank Thailand’s managing director Phanom Kanjanathiemthao.

Foreign investment in Beijing property may hit record high

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Real_Estate/30368047

File photo/China Daily
File photo/China Daily

Foreign investment in Beijing property may hit record high

ASEAN+ April 21, 2019 10:08

By China Daily
Asia News Network

Foreign investors have been increasingly active in Beijing’s property market this year, with their transactions projected to reach a record high in 2019, industry experts said.

“We see an increasing proportion of foreign investors’ participating in Beijing’s property market this year, and we are expecting another round of brisk investment this year,” said Liu Bing, deputy managing director of DTZ China’s capital market department.

“This is mainly due to the appreciation of the dollar since last year and tightening financing channels for domestic players.”

According to DTZ foreign investors have reached 10 block deals valued more than 25 billion yuan ($3.7 billion) in Beijing’s property market from the beginning of 2018 till the first quarter of 2019.

Statistics from JLL indicate that foreign investors continue to show interest in the market this year.

Dinghao Electronics Plaza in Zhongguancun was purchased by a joint venture between Partners Group, The Family Office, SDP Investments, and The Carlyle Group for around 9 billion yuan.

“Given the strong presence of leading and fast-growing IT firms in the area, Zhongguancun remains a bright spot for investment opportunities in Beijing,” said Michael Wang, head of capital markets for JLL in Beijing.

“Due to the lack of commercial leasing space in the IT-driven submarket, rapidly expanding companies are increasingly choosing to purchase entire buildings to meet large office requirements.”

Wang Jiaqi contributed to this story

FamilyMart launches no plastic drive

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http://www.nationmultimedia.com/detail/Corporate/30368102

FamilyMart launches no plastic drive

Breaking News April 22, 2019 11:38

By The Nation

FamilyMart is showing its concern for the environment with the launch of a new “Green FamilyMart” campaign.

Plastic waste is today considered a major environmental crisis, with much of the problem caused by the reliance on plastic bags.

Plastic bags take almost 500 years to degrade and accumulate in landfills or the natural environment with severe negative impacts on the ecosystem. In Thailand, which is heavily burdened by plastic waste, both the government and private sectors are focusing on environmental campaigns that invite consumers to say no to plastic bags when buying goods from stores.

The situation has led FamilyMart employees to launch the “Green FamilyMart” campaign to promote awareness among Thai consumers of the need to protect natural resources.

Chiranun Poopat, president of Central FamilyMart, says that environmental preservation and sustainability are among the key missions of Central FamilyMart and all other subsidiaries of the Central Group. Activities include giving directions to employees to separate the garbage before leaving, as well as to reduce and stop the single use of plastic bags. The Green FamilyMart committees are committed to play a role in restoring natural resources and not create waste or pollution.

“Over the past several years, we have worked together with our customers, the government sector and local communities on many campaigns, such as the sorting of wet garbage at Koh Samui. This has resulted in the reduction of up to 30 tonnes of wet garbage per annum and allowed processing of biogas for schools on the island. ‘Every No Bag’ is another activity and here we ask for cooperation from our customers to say no to plastic bags while also reducing the number of plastic bags given out at our stores throughout the country. A ‘No Bag Store’ campaign has been launched at selected FamilyMart stores. Other activities include the campaign for reduction of plastic bags in Phuket in cooperation with local communities, and the company’s involvement in the government’s project encouraging people to stop using plastic bags on the fourth day of every month.

“We were able to reduce the amount of plastic bags by more than 30 per cent in 2018 compared to the previous year. For 2019, Green FamilyMart plans to expand its campaign in order to reduce plastic bags in many other areas in collaboration with other companies under the Central Group to underline its commitment to caring for the environment and building sustainability.

“We are also aiming to reduce the amount of plastic bags offered by the FamilyMart stores by another 30 per cent this year,” said Chiranun.

Today, to mark Earth Day, FamilyMart is launching an activity to show its involvement in environmental protection by not offering plastic bags to customers at its stores nationwide. The company has also organised an internal campaign to encourage staff to turn off the electricity for one hour.

FamilyMart operates about 1,010 stores, half of them energy saving outlets. Over the past four years, FamilyMart has reduced its electricity consumption by 80 million units and reduced its carbon footprint by more than 80,000 tonnes.

Wind farm launches earlier than scheduled in Thailand’s south

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30368100

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Wind farm launches earlier than scheduled in Thailand’s south

Breaking News April 22, 2019 11:13

By The Nation

Lomligor Co Ltd, a BCPG affiliate and operator of a wind farm in Pak Panang district, Nakhon Si Thammarat province, commenced COD (commercial operation date) ahead of schedule on April 11.

Bundit Sapianchai, BCPG President and CEO said that on April 11, the 10-MW wind farm in Pak Panang district, Nakhon Si Thammarat province, operated by Lom Ligor Co Ltd, an affiliate of BCPG Group, started selling electricity to the Provincial Electricity Authority (PEA) ahead of schedule. COD was previously scheduled for the second quarter of this year but the earlier launched enabled revenue recognition earlier than planned.

The project, which comprises four wind turbines, with generation capacity of approximately 5.1 hours per day, will generate an average of approximately Bt6.60 per unit revenue, which includes a Bt3.50 adder per unit for 10 years. It is also equipped with an Energy Management System to help manage energy generation efficiency.

“The Company is seeking opportunities to expand its wind energy business in other countries in the Asia-Pacific. Details should be much clearer in the next few months. While we focus on projects with a high return on investment, we are also entering the Digital Energy Business, where we work to offer choices to consumers through innovations so that they can not only produce environmentally friendly energy by themselves but also save on costs,” Bundit said.

Loan guarantor eyes micro SMEs

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30368061

Loan guarantor eyes micro SMEs

Corporate April 22, 2019 01:00

By Somluck Srimalee
The Nation

TCG to help the pave way for loans from financial institutions

Thai Credit Guarantee Corporation (TCG) targets annual growth of 20-30 per cent in loan guarantees till 2022 from the end of last year, focusing on small and medium enterprises (SMEs/micro SMEs), said the company’s new president Dr Rak Vorrakitpokatorn in an interview with the Nation.

“Currently, up to three million SMEs are operating in the country, of which two million are unable to access loans from commercial banks, picos and nano finance companies, while the other one million have already secured funding from financial institutions. In addition, there are two million micro-SMEs who have also been denied access to loans,” he said.

Micro SMEs include  taxi drivers, motorcycle taxi drivers and small online businesses, he added.

“Micro SMEs is now our target group. We will advise them on ways to successfully apply for funding from banks and finance companies. As a priority in driving growth, we have set out to support these small operators and to enhance our reliability among lenders in the process of loan approval”.

Rak took over the presidency four months ago on a four-year term till the end of 2022.

In line with the new strategy, the company will adjust its business model from evaluating loan guarantees for companies suggested by the banks to reaching out to potential clients.

“We plan to launch Loan Clinic, an online app offering advice and expertise from how to manage a company’s revenues and spending to preparing financial statements for a loan application. It will be unveiled next month, he said.

Rak said the app is accessible to all users and TCG will waive the guarantee fee for the first year as means to reduce a company’s operation cost prior to applying for a loan.

This year, the company will invest up to Bt200 million in upgrading its information technology(IT) system in line with the new business model.

To meet customer demands, another Bt300 million will be spent on digital technology development between 2020 and 2022.

With the upgrade of its IT system, TCG will further reduce the process of loan guarantee approval for its customers to a single day next month. The process has already been reduced from 14 days to three days, he said.

“The faster working process will increase our approval target for loan guarantees from an average of Bt88 billion in previous years to Bt115.5 billion this year. It will also boost the number of our new customers from an average of 54,969 a year to 89,166 in 2019,” he said.

TCG is also embarking on a re-organisation process. It has appointed PWC as its adviser on business restructuring and operational direction for the future.

These measures will drive TCG forward as the top guarantor for both loan applicants and lenders in the country, Rak concluded.

Move on NVDRs expected to draw foreign capital to SET

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http://www.nationmultimedia.com/detail/Corporate/30368066

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Move on NVDRs expected to draw foreign capital to SET

Corporate April 22, 2019 01:00

By The Nation

Investment analysts expect foreign capital to flow into the Thai bourse next month, driven by MSCI’s planned inclusion of non-voting depository receipts (NVDRs) into its emerging markets index.

Aside from the US Federal Reserve’s policy of monetary easing, signalling no interest-rate rise for the rest of the year, global index provider MSCI’s plan to include NVDRs, a class of shares held by foreigners, in its closely watched emerging markets index would boost demand for investment in emerging-market assets, said Visit Ongpipattanakul, managing director of Trinity Securities.

Should MSCI go ahead with the plan, foreign funds with reference to the MSCI Index would likely increase their weighting of Thai stocks in their portfolios with an estimated amount of about Bt60-Bt70 billion into the Thai bourse, given the large number of foreign investors holding Thai stocks through NVDRs, he said.

Thai stocks make up about 2.5 per cent of the MSCI Emerging Markets Index. NVDRs are depository receipts issued by Thai NVDR Co Ltd.

 Wijit Arayapisit, investment strategist of Maybank Kim Eng Securities (Thailand), said that short-term foreign capital will likely flow back into the Thai stock market in May due mainly to MSCI’s “rebalancing to increase its weight in Thai stocks”.

Kitpon Praipaisarnkit, a strategist at UOB Kay Hian Securities (Thailand), expects net buy of Thai stocks by foreign investors, given the likelihood of MSCI’s inclusion of NVDRs and the formation of a new government.

“It’s difficult to evaluate capital movement of foreign investors who net sold nearly Bt300 billion of Thai stocks last year. If foreign capital flows back, there must be contributing factors such as political stability,” Wijit said.

Foreign investors who net sold Thai stocks are expected to net buy Thai equities this year, he said.

Tisco Securities expects foreign investors to net buy Bt50Bt80 billion worth of Thai shares this year. Its estimate of this year’s earnings per share (EPS) has been cut to Bt123 due mainly to the expected impact on Thai exports and tourism in light of the global economic slowdown. It projected the SET Index to end at 1,790 points this year.

UOB Kay Hian Securities (Thailand) revised down its prediction of this year’s EPS to Bt118. It projected the SET Index to end the year at 1,800 points.

Trinity Securities cut its estimate of the 2019 market EPS to Bt108 early this month after listed firms were required to increase their provisions as a result of the new legal requirements, while Maybank Kim Eng Securities (Thailand) slashed its forecast of this year’s EPS to Bt113.50 from Bt116 estimated earlier.

Trinity Securities forecast the SET Index to reach 1,780 points at the year-end while Maybank Kim Eng Securities (Thailand) expects 1,730 points.

How to TRAVEL FAR with a can-do spirit

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367985

PIMPAWEE
PIMPAWEE

How to TRAVEL FAR with a can-do spirit

Corporate April 20, 2019 01:00

By SIRIVISH TOOMGUM
THE NATION WEEKEND

PIMPAWEE Nopakitgumjorn, a top executive at Expedia Group Thailand, says her goal is to help Thai hoteliers in cities of all sizes to attract more global travellers and become more competitive in the digital world by using Expedia Group’s global platform, data analysis skills, and tools.

Expedia Group is one of the world’s largest travel platforms.

Pimpawee, 40, is the director of market management at Expedia Group Thailand, overseeing the Expedia Group Lodging Partner Services (LPS). She is responsible for leading the LPS account management teams and sourcing lodging supplies in Thailand.

“Our goal is to help Thai hoteliers attract more global travellers from 75-plus countries through our powerful travel brands portfolios and equip them with the best-in-class tools and technologies, so they can be more competitive in the digital world,” she says.

She says that Expedia, as the world’s leading online travel agency, provides an innovative and powerful platform that has been proven to help hoteliers reach millions of travellers worldwide and reap the benefits from a set of its tools and technology. This is a critical factor that helps Expedia Group harness partnership with partners in Thailand.

“I think that today, hoteliers in Thailand have a better understanding of the importance of being visible and bookable online,” Pimpawee says.

“Over the past 10 years, we’ve built a strong relationship with our partners, empowering them with the latest technology and tools to help them succeed. We strongly believe the platform, tools, and services we offer are competitive to cater partners’ needs.”

Pimpawee says that Expedia, together with the Tourism Authority of Thailand (TAT), is committed to playing a pivotal role in improving the digital literacy across Thailand’s hospitality sector and, ultimately, help generate more income for local economies.

Pimpawee, who has a background in engineering, was attracted to the travel industry because she was born and raised in Thailand, where tourism plays a major role in the economy.

“My combined background in engineering and an MBA (master of business administration) convinced me I should do more for the Thai tourism industry and here I am, together with my team, supporting hoteliers across the country to showcase their products and services to the travellers around the world,” she adds.

Pimpawee places great value on collaboration and diversity. She said that it is the teamwork and the collaboration that has got her to where she is now. She adds that she aims to make a difference and relentlessly strive for better outcomes in everything she does.

When asked if it is a challenge to work within this global organisation, she says she is proud to be a Thai female in a leadership position in such a prominent company.

“I have been with Expedia Group for 12 years and I must say this is a great company that values diversity and gender balance,” says.

“Gender discrimination has never been applied to me or those around me. I want to encourage women in the workforce to be vocal about the issues they are facing and seek support and mentoring sponsorships within the organisation. Plus, it’s critical to get male colleagues involved in advocating diversity and gender balance. There has been much research that shows that companies with a good gender balance obtain the best business results.”

Of the challenges that she faces in her work, Pimpawee singles out time – and the lack of it in her busy schedule.

“I feel I never have enough time to do everything I want to do,” she says. “Time management is vitally important to achieve success. I have learned that prioritisation and effective delegation are required. Being able to rely on a team and having teams to work together towards a goal is absolutely critical.”

Under her management style, she has encouraged her team to come up with a strong sense of project ownership. The overall success of the team must come from the collective work each team member contributes.

“I have high standards and believe in aiming to be better each and every day,” she says. “We foster a feedback culture where we help to provide feedback to one another, so that we can improve continuously.”

To this end, Expedia Group uses artificial intelligence (AI) and machine learning in its everyday business.

“Our interactions with the customer give us millions of data points that we can leverage to understand where customers’ intent is, and how best to assist them in their conversions,” Pimpawee says. “We harness the power of our global platform by analysing these millions of data points, wrap hoteliers with data-driven tools around them, and provide insights that matter for their businesses.”

Pimpawee believes that Expedia is now one of the first choices that come to people’s minds in Thailand when it comes to booking travel services – be it hotels, flights, local activities or packages. She herself does travel occasionally for leisure and, of course, uses Expedia to book her own trips. New York is her favourite destination.

“I love New York. Last time I went there was before I got married and had a son. I want to go back there again to see if it is still my favourite destination. I keep having a feeling that Australia could be our new family’s favourite destination,” she says.

Bank of Ayudhya sees 105% jump in first-quarter profits

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http://www.nationmultimedia.com/detail/Corporate/30367992

Bank of Ayudhya sees 105% jump in first-quarter profits

Corporate April 19, 2019 19:20

By The Nation

Bank of Ayudhya Plc and its business units have announced a robust performance for the first quarter of 2019, with a record net profit of Bt12.7 billion, a 104.9-per-cent increase from the same quarter of last year.

The increase in the Bank’s quarterly net profit was attributed to higher non-interest income of 95.6 per cent, mainly driven by the gains on investments from the sales of 50 per cent of shares in Ngern Tid Lor (NTL).

These strong earnings underscore Krungsri’s competitive strength and well-balanced portfolio, as well as effective cost management, Krungsri president and chief executive officer Noriaki Goto said in a release on Friday.