EXIM Thailand has announced the appointment of Ratchanis Chareon as First Vice President of Treasury Department, taking effect from July 16, 2022.
Export-Import Bank of Thailand (EXIM Thailand) has appointed Ratchanis Chareon as First Vice President of Treasury Department, to be in charge of overseeing the Bank’s management of financial liquidity, foreign exchange risk, foreign currency balance, funding and derivatives transactions, as well as ensuring and building relationship with both onshore and offshore financial institutions, effective from July 16, 2022 onward.
Ratchanis holds a Master of Science (English Program) in Banking and Finance from Chulalongkorn University and Bachelor of Economics (English Program) from Thammasat University. She joined EXIM Thailand in 1995 and was appointed as Assistant Vice President of Treasury Department in 2006 and Vice President of Treasury Department in 2012.
The government will start expropriating land in a tambon in Chon Buri province late this year for the construction of a smart city and EEC business hub with a budget of 1.34 trillion baht, a senior official said.
Kanit Saengsuphan, secretary-general of the Eastern Economic Corridor Office (EECO), said the office would start expropriating Sor Por Kor land in four villages of Tambon Huay Yai in in Chon Buri’s Bang Lamung district either late this year or early next year.
The Sor Por Kor is land allocated to landless farmers for farming. The land cannot be legally sold.
Kanit said the first phase of expropriation would cover plots in Ban Bueng (Moo 6), Ban Mab Phuk Thong (Moo 11), Ban Nok (Moo 12) and Ban Nong Phak Kood (Moo 13) villages in tambon Huay Yai.
Most of the plots are farm lands where villagers have planted rubber trees, palm trees, coconut trees and tapioca.
He said the office has dispatched teams to conduct public hearings and the plan had garnered support but also opposition.
An EECO source said the office was still in the process of negotiating land prices with farmers as many of them thought the offered prices were too low.
A source from Tambon Huay Yai said the first lot of expropriation would be done for 2,000 rai of land in Moo 13 village and the plot would be used for building the new EEC office. The source said public hearings with local people met with both agreement and disagreement as many local people saw the prices were too low.
Although the Sor Por Kor land cannot be legally sold and bought, the source from the tambon said many investors have already bought the right to hold the land from farmers in anticipation of getting benefits from the new city project.
The source said land price has shot up after it has become known now that the construction of the new EEC city would start in tambon Huay Yai along highway No 331 — the Sattahib-Khon Chi Chan Road.
Tambon Huay Yai has been selected as the centre of the new city apparently because it is located at the spot with convenient transportation. It is located near a station of the high-speed railway that will link the Don Mueang, Suvarnabhumi and U-Tapao airports. The spot is also near the U-Tapao airport, Pattaya and not too far from Suvarnabhumi Airport.
The EECO source said some 14,600 rai (2,336 hectares) in tambon Huay Yai would be gradually expropriated. So far, the government has allocated 1.5 billion baht for the expropriation, the source added.
The source said the project would later expand to cover some 70,000 rai of smart city covering two more tambon – Pong and Khao Mai Kaew.
The cost of the entire project was set at 1.3 trillion baht over 20 years of development, the source added.
The source said the smart city would have low-rise buildings comfortable to live in and work from. It would cater to foreigners who would come to work in the EEC during the next 20 years, the source added.
Consumers are paying attention to environmentally friendly products and services, as environmental issues were affecting their lives, Kasikorn Research Centre (KResearch) said on Thursday.
KResearch said all consumers were affected by environmental issues in some way, such as rising cost of living due to natural disasters and medical expenses due to air pollution and waste.
It said environmental issues had forced consumers to improve their behaviour in a bid to mitigate the impact on the environment, such as by using biodegradable packages and energy-saving devices.
However, it said consumers weren’t interested in using public transportation to reduce energy consumption, making it necessary to develop a transportation system that meets consumers’ demands.
Consumers also want manufacturers to launch more environmentally friendly products and services, as well as boost confidence in product and service quality and safety, KResearch said.
It said 66.3 per cent of consumers are willing to purchase environmentally friendly products and services at a price not more than 20 per cent higher than normal ones.
It added that only 3.4 per cent of consumers are willing to purchase environmentally friendly products and services at a price similar to normal ones.
“This reflects consumers’ readiness to purchase products and services at a higher price to mitigate impact on the environment,” KResearch said.
It added that 71.4 per cent of consumers are interested in purchasing foods and beverages which are environmentally friendly, followed by consumer goods, such as soap, shampoo and detergent (49.3 per cent).
“The business sector may take advantage of this issue to expand business and boost sales,” KResearch said.
It added that 95.8 per cent of investors suggest the business sector should implement ESG — environmental, social, governance — strategy in business operations to gain confidence among consumers.
It added that 85.7 per cent said they are taking ESG strategy in their investment consideration.
“In addition, 75.4 per cent of respondents are likely to sell companies’ assets that are facing ESG issues,” KResearch said.
It added that 72.8 per cent of investors were interested to invest in businesses related to renewable energy, followed by biotechnology (50.1 per cent) and food and beverages (46.7 per cent).
KResearch also suggested that cooperation among sectors, especially the government sector, is necessary to tackle environmental issues and enable consumers to purchase environmentally friendly products and services at a reasonable price.
Thai and foreign investors are expected to snap up more than 20 hotels worth over 15 billion baht this year, according to property consultant Colliers International Thailand.
As the country’s tourism outlook improves, the first half of 2022 has seen brisk demand for Thai hotels, particularly in major tourist destinations such as Bangkok, Phuket, Samui, Pattaya and Chiang Mai, said Colliers research and communication director Phattarachai Taweewong.
Most purchases involved old hotels that were later renovated, upgraded and rebranded.
This year, Colliers expects more than 20 hotels to be purchased, compared to 24 last year and seven in 2020, when the Covid-19 pandemic struck.
Earlier, the number of hotels offered for sale was limited. However, with the advent of Covid, many owners were forced to put their hotels up for sale following a severe lack of liquidity and mounting operating costs.
Last year’s prices were about 30 per cent lower than market prices but are being adjusted higher this year due to the better tourism outlook, with foreigners returning to visit Thailand in droves.
An upbeat Tourism Authority of Thailand predicted tourist arrivals of more than 10 million this year.
“Investors can buy hotels at reasonable prices,” Phattarachai pointed out. “It is likely the value of purchases will exceed 15 billion baht.”
Chinese investors tend to show interest in purchasing hotels in Phuket and Chiang Mai, while those from the US, Singapore and Japan look for properties in Bangkok, according to Colliers.
Over the past decade, total purchases of Thai hotels were worth 99.6 billion baht. The value was particularly high in 2017 and 2018, when the amount was more than 20 billion baht in each of those years, Colliers records show.
The new bidding terms for a 35.9-kilometre section of the Orange Line rail project are unlawful and against a Cabinet resolution, Skytrain operator Bangkok Mass Transit System (BTSC) said on Wednesday.
Its statement came after it opted out of the new bidding, alleging the terms were designed to help a particular bidder.
BTSC chairman Keeree Kanjanapas said the new terms of reference (TOR) and request for proposal (RFP) “limit the competition” and will lead to the Mass Rapid Transit Authority of Thailand losing the opportunity to get the best offer.
“The new TOR and RFP are aimed at preventing the BTSC and its partners from participating in the bidding,” he said plainly.
The company is ready to participate in the bidding, but it must be fair and provide the maximum benefit to the country, Keeree added.
Meanwhile, BTSC chief executive Surapong Laoha-Unya said the new TOR and RFP are preventing private companies from participating in the bidding, even though they were eligible to participate in past bidding.
He alleged that the TOR and RFP were helping a particular consortium win the project, adding that such a practice would violate the BE 2542 (1999) Act against bidding collusion.
“We believe such a practice is unlawful and against the Cabinet resolution, the Administrative Court’s ruling, the Public-Private Partnership Act BE 2562 (2019) and other related laws,” Surapong said.
He added that the BTSC has filed a lawsuit with the Central Administrative Court against the TOR and RFP and it has also filed a complaint with the Department of Special Investigation, calling for a probe.
Real estate giant Sansiri is staking 31.2 billion baht on an expectation the Thai property market will grow strongly in the second half of 2022.
The money will be spent on developing nine detached house projects, two mixed projects, five townhome projects, and 15 condominiums, the firm announced on Tuesday.
Sansiri’s chief operating officer Uthai Uthaisangsuk said prospects were bright as Thailand’s twin economic engines of exports and tourism powered up and the government introduced policies to stimulate the real estate market.
He expects upper and middle levels of the property market to grow, saying that people were buying real estate to escape inflation woes.
The condominium market would also be buoyed by the return of foreigners to Thailand, he added.
This year, Sansiri plans to launch 46 projects worth a total 50 billion baht.
Of these, 78 per cent will be housing projects and the other 22 per cent condominiums.
The firm has already launched 15 projects worth a total of 18.8 billion baht in the first half.
Uthai said Sansiri earned 18.3 billion baht from presales in the first six months, 52 per cent of the targeted 35 billion baht in 2022. Housing projects earned 12.7 billion baht in the first half, with six projects fully booked.
Meanwhile, the company earned 14 billion baht from transfers in the first half, 40 per cent of the 35-billion target.
Uthai expressed confidence the target would be reached, explaining Sansiri also had 10.5 billion baht of backlog to be transferred and 10.5 billion baht of to-go sales and transfers in the second half of 2022.
He added that it also had a presale backlog of 20.3 billion baht from the second half of 2022 to 2024.
Meanwhile the company had liquidity of 15 billion baht to tackle any situation.
Second-half plans feature housing projects to meet demand in several areas and price ranges under the concept “Home for Everyone”. The company also plans to construct condominiums near electric trains, riversides, workplaces, and communities, including in provinces outside Bangkok.
Uthai said that Sansiri three-year target through 2024 was to launch 150 billion baht worth of projects with a presale target of 120 billion baht.
Pet lovers are invited to the “Raining Cats & Dogs” concert on Sunday, August 25, 2022 at BCC Hall, Central Ladprao shopping centre.
This charitable music event features “Polycat”, a synth pop band from the 1980s, and “Modern Dog”, an alternative rock band of the 1990s.
They will join together in expressing creative ideas on the stage designed as “pet playground”, where pets and music lovers can enjoy the show simultaneously.
There will also be activity booths for pet lovers at the event on the fifth floor of Central Ladprao shopping centre, starting from 7pm.
Organiser Major Development Pcl, developer of pet-friendly condominiums, said a part of the proceeds will be donated to foundations working to help stray dogs and cats.
Tickets of any face value can be used to get a 50,000 baht discount when buying a property of Major Development in any project. For more information, contact Line @majordevelopment
Strengthen the bonds that matters most with fun-packed adventures from pristine beaches to Himalayan foothills and cultural city hubs across Asia
Hong Kong, July 2022 – With borders reopening across Asia and summer around the corner, JW Marriott Hotels and Resorts in the Asia Pacific (excluding China) is inspiring families to join the great multigenerational escapes and spend quality time together. Whether families plan to travel together or venture on a local getaway, JW Marriott is a haven of inspired luxury, offering intuitive services and experiences that every generation can indulge in, ensuring that the whole family can come together for their most meaningful moments.
Inspired by founder J. Willard Marriott’s principle of mindfulness, the brand’s signature programs are carefully curated to help guests be fully present, foster connections, and revitalize the mind, body, and spirit. Family by JW is an interactive program for both children and adults to promote engagement and enrichment among all family members. Providing a multi-sensory experience, the signature JW Garden is where herbs and vegetables are grown in-house and incorporated into various touchpoints of the guest journey. Throughout the hotel, guests are encouraged to experience a holistic approach to well-being with tranquil spaces, Mindful Moments, and Sensory Programming.
Nature Adventures in the Maldives, Gold Coast, Phuket, and Mussoorie
Underwater Adventures at JW Marriott Maldives Resort & Spa
JW Marriott Maldives Resort & Spa is the ultimate family resort with up to 100 activities available for children at the Family by JW – Little Griffins Kids Club. The architecture of the kids club is inspired by a pirate ship with beach huts, providing an element of discovery in every room for young underwater-themed enthusiasts. Activities such as treasure hunts, arts and crafts, and interactive island exploration will whisk the young adventurers on true adventures of a lifetime. The two-story Duplex Beach Pool Villas overlooking the stunning Indian Ocean is the ultimate luxurious island living accommodating up to four adults and two children, ensuring plenty of space for the whole family to relax and unwind together.
A luxury coastal retreat in Surfers Paradise, JW Marriott Gold Coast Resort & Spa offers exploration for young and multigenerational travelers to engage by Gold Coast’s white sandy beaches. With its curated Family by JW program, families can join snorkeling in the resort’s famous saltwater lagoon, sandcastle making, or daily fish feeding. Highlights include the JW Garden tours and herb planting hosted by the culinary team where children can grow a deeper appreciation for how produce and herbs are cultivated. This is part of the resort’s commitment to naturally-inspired dining through its JW Garden offering fresh, local ingredients for garden-to-table dining experiences and hands-on cooking classes. Children can see for themselves those fresh ingredients being incorporated into the very food they eat.
Cultural Enrichment at JW Marriott Phuket Resort & Spa
JW Marriott Phuket Resort & Spa is well-known for its Cooking School by JW, where families can join the resort’s culinary experts in discovering the secrets of delicious and nutritious Thai delicacies that reflect the destination’s culture. As part of the interactive cooking class, budding foodies will enjoy the educational walk through JW Garden to learn more about indigenous spices, herbs, and vegetables. After, families can explore turtle conservation at the Mai Khao Turtle Shelter and unwind at the Mai Khao beach – just a stone’s throw away with soothing spaces throughout the beachfront to soak in the serene surroundings or take part in Mindful Moments such as gentle yoga or batik painting activities.
Scenic Sanctuary at JW Marriott Mussoorie Walnut Grove Resort & Spa
Nestled among the foothills of the Garhwal Himalayan ranges, JW Marriott Mussoorie Walnut Grove Resort & Spa is a calming sanctuary for families to have an unforgettable time together. With sprawling greens surrounding the hotel, families can explore the beautiful treks around Mussoorie, the ‘Queen of Hills’, to enjoy the scenery and dip their feet in the chilly stream. The hotel’s JW Garden, JW Farm and Greenhouse offer a multi-sensory experience curated for guests to highlight the importance of eco-balance while also providing a nourishing farm-to-table experience with its sustainably grown herb and vegetables. Every day of the week, there are activities by Family by JW including Implant Nature, an environmental conservation effort of the now eroding Garhwal range through the plantation of saplings.
Discover Urban Oases in Singapore, Seoul, and Hanoi
Urban Quest at JW Marriott Singapore South Beach
Bringing the best of the city right to the doorstep, JW Marriott Singapore South Beach is located in the heart of Singapore’s art and culture district. Thoughtfully curated, embark on a discovery of the city or within the hotel with an activity guide and exploration map, a rewarding adventure for the whole family. Little ones will have plenty of fun with an in-room JW Marriott camper van and signature Family by JW kids amenities. After an exciting adventure in the city, families can unwind in the sky gardens and enjoy a swim with panoramic views of the city.
Unleash Kids’ Inner Artist at JW Marriott Dongdaemun Square Seoul
Escape the heat this summer with some indoor fun at JW Marriott Dongdaemun Square Seoul. The hotel’s JW Kids Artists package offers a variety of kids activities for families in search of an entertaining dose of pop art. This urban break includes a ticket to the DikiDiki Design Playground, a unique play environment with various themes to awaken children’s senses and stimulate their power of expression and imagination. Back at the hotel, families will enjoy breakfast at Tavolo 24 overlooking the city, in-room family dining service bringing tasty and shareable dishes, and access to the hotel’s environmentally friendly, LEED Gold-certified swimming pool complex.
Lakeside Glamping at JW Marriott Hotel Hanoi
Hanoi is known as the ‘City of Lakes’ and JW Marriott Hotel Hanoi‘s beautiful lakeside setting is perfect for families to embrace nature and enjoy outdoor fun. The mindful retreat is known for its glamourous camping grounds and JW Lakeside Garden with a combination of entertainment and learning for the young ones and families. Plenty of activities to be enjoyed including herb planting in the JW Lakeside Garden, picnic, treasure hunting, and movie nights at the lakeside. After an exciting day outside, unwind at the luxurious Spa by JW with a personalized spa experience.
Rabbit Life Insurance Public Company Limited or “Rabbit Life”, a subsidiary of the BTS Group, formally unveils its vision “Think differently to improve your life with a life insurance that hedge your bets and provides simplified solutions” with the objective to become the leader in the life insurance business that is agile and flexible to life’s changes and diverse needs and is ready to walk alongside clients to live a “level up life.”
Mr. Korn Chinsawananon, Managing Director of Rabbit Life Insurance PCL, said, “The life insurance sector in Thailand is stable and has high growth potential as a large proportion of the population are still uninsured. While we are a newcomer in the industry, our team is highly qualified and has over 25 years of experience and know-how in the insurance business. As such, we aim to be the number one insurance broker in the hearts of consumers, providing exceptional experience that places clients at the center of our solutions, with the philosophy ‘to listen’, ‘to learn’ and ‘to create’ the best solutions for our clients’ diverse needs. Moreover, we dare to provide more benefits that are simple, quick and cost-efficient. Therefore, our clients can rest assured to live their lives to the fullest no matter what their goals are, in line with our motto – ‘Rabbit Life: Level Up Life.’ Our immediate goal is to be among the top ten companies in the insurance industry within 3 years.
“Based on our market research, we found that the new generation is living a ‘New Mindset’ life, whereby they are considering their needs in a variety of dimensions when selecting their insurance plan. This is also due to the rapid changes in the world’s situations in the past 2-3 years which lead people to require more flexibility to adapt to changing circumstances, not only in the way of living, health or finance, but in all aspects of life. As a result, consumers are more particular in selecting an insurance policy that is suitable for each of their life stages. In response, we have developed our products to cater to our clients’ distinct needs under the concept, ‘Customixed’ (Customize + Mix), offering comprehensive and cost-effective coverage through our specialty insurance programmes, such as ‘Level Up Protection’ – life insurance; ‘Level Up Saving’ – savings insurance; ‘Level Up Health’ – health insurance; ‘Level Up Wealth’ – investment insurance; and ‘Level Up Life Reward’ – post-retirement annuity insurance. Adding to this, we are also offering seamless customer experience through omnichannel distribution with experienced advisors on hand to offer expert advice.”
“Last but not least, our strong alliance with companies under the BTS Group will enable us to mix and match our combined offerings; in turn, ensuring that our Rabbit Life Insurance holders will be able to benefit from a diverse range of products and services as well as special offers unlike any other,” Mr. Chinsawananon added.
Bangkok (July 21, 2022) – ICONSIAM, a world-class landmark located on the majestic Chao Phraya River – a joint-venture between three leading retail and real-estate developers: “Siam Piwat, Magnolia and CP,” is set to unveil ICS, a ‘Mixed-Use Lifestyle Town’ developed to amplify the thriving potential of the Thonburi area. ICS fosters an integration of urbanity and community that truly reflects today’s lifestyle by offering a complete range of retail, office and hotel facilities.
Mr. Supoj Chaiwatsirikul, Managing Director of ICS Company Limited, said that ICS will cater to both Bangkok and Thonburi residents, due to its multi-modal transport links of road, Skytrain and boat as well as a direct connection to ICONSIAM which will generate vibrant daily traffic. Key anchor tenants will include Lotus’s – a new concept modern lifestyle supermarket, a Lifestyle Healthcare and Wellness Center by one of Thailand’s leading hospitals and the first Hilton Garden Inn in Bangkok: Hilton Garden Inn Bangkok ICS Charoen Nakorn with 241 rooms and cutting-edge facilities that will serve the needs of international tourists and business travelers. Moreover, ICS will offer a new vibrant lifestyle mall to deliver happiness to customers daily under the concept “Always a Good Day”. ICS will feature more than 200 brands in the home and living, IT, financial services, fashion, beauty and cosmetic services and other daily life necessity segments. Dining at ICS will feature a comprehensive selection of over 80 leading F&B brands including many new international concepts that will open their first outlet in Thailand at ICS.ICS office facilities have already attracted leading educational services and IT solutions companies providing robust weekday traffic.
Mr. Supoj added “Since the beginning of 2022, the number of business and leisure travelers to Bangkok has increased continuously and we are seeing rising demand for hotels and conference facilities especially for MICE. ICS, as a ‘Mixed-Use Lifestyle Town’ will cater to these needs and become another important magnet to drive ICONSIAM towards complete and integrative services for all customer segments.”
ICS is a key pillar in the continuation of Thonburi’s development plan, amplifying the expansion of the city on this side of the Chao Phraya River, especially the prime Khlong San area and Charoen Nakorn Road. More than 50 high-rise residential projects, or more than 25,000 units, will be completed in the area in the next few years and this increase in residential supply will facilitate the re-location of a significant new residential population to Charoen Nakhon Road. In addition, the Royal Thai government plans to relocate the Ministry of Interior from ‘Klong Lod,’ Phra Nakhon to a new location near Sawetchat Worawihan Temple on Charoen Nakhon Road. Taksin Hospital, a major hospital in the Thonburi area, is also planning to expand its services by constructing a new 600-bed patients’ facility. In total these developments will create over 300,000 jobs for this prime area in Thonburi.
Currently construction of ICS is 90-percent completed and is scheduled to open Q4, 2022.
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