Montegrappa luxury pens write new chapter in Thailand after 110 years

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https://www.nationthailand.com/business/40018144


After finding favour among popes, monarchs and authors – including Ernest Hemingway – Montegrappa pens are finally writing a new chapter in Thailand.

Montegrappa luxury pens write new chapter in Thailand after 110 years

Handcrafted in Italy for over a century, these sleek instruments are status symbols that signal a passion for writing, style and the finer things in life.

Montegrappa was founded by Austrian Edwige Hoffmann in Bassano del Grappa, northern Italy, in 1912. The specialist knowledge used to craft these precious pens has been handed down from generation to generation for the past 110 years.

Montegrappa’s unique and charismatic designs are enhanced by refined engineering and virtuoso finishing. Over more than a century, its fountain pens have earned a reputation for balancing tradition and innovation in the constant pursuit of perfection. Hand-selected high-quality materials entice collectors while also ensuring long-term performance.

These sought-after writing implements made their debut in Thailand on Friday, showcased at TKI Group’s new Montegrappa boutique on M Floor, Siam Paragon.

The Thai luxury retailer, which specialises in high-end timepieces and fine jewellery, is the only authorised representative for the luxury stationery brand in Thailand and Asia.Montegrappa luxury pens write new chapter in Thailand after 110 years

TKI Group Director Phuris BunjapamaiTKI Group Director Phuris Bunjapamai

TKI is a family-owned company that boasts more than 60 years of dedication to customer satisfaction.

“This is a significant year for us to bring Brand Montegrappa to Thailand,” said TKI Group Director Phuris Bunjapamai. “This year marks the 110th anniversary of the brand. I consider it an honour to represent this beautiful boutique in Thailand”.

The official opening of Montegrappa by TKI will be graced by Ernest Hemingway vibes, a classic photo exhibition and four outstanding pens from the Hemingway collection – The Soldier, The Writer, The Fisherman and The Traveller.

Montegrappa luxury pens write new chapter in Thailand after 110 years

“We will present a replica of a [heritage] office in Italy so you can travel back in time with us,”, Phuris added.

Montegrappa pens are available in different collections to meet a variety of needs. In addition to the mainstream Core Collection models, the brand is introducing a new limited-edition line. Fountain pens, ballpoint pens, and rollerball pens with ballpoint and fountain ink will be available at the new Siam Paragon boutique.

Published : July 25, 2022

By : Varunsuda Karunayadhaj

Avoid “digital assets” as pension investment, advise gurus

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https://www.nationthailand.com/pr-news/business/40018137


(PR News) The Securities and Exchange Commission (SEC) has said that digital assets carry high risk and therefore advised investors looking for long-term portfolios such as pension funds to avoid them while regulations are being reviewed to allow mutual funds and provident funds to invest in digital assets.

Avoid “digital assets” as pension investment, advise gurus

Meanwhile, investment gurus from Principal Asset Management Ltd and Chaloke Dot Com also agreed that digital assets are not suitable for long-term pension investment. 

Nopnuanparn Pavasant, SEC’s director of financial technology promotion, said in the recent online seminar “7th Retirement Plan Symposium” that currently the SEC does not allow mutual funds and provident funds to invest in digital assets, as the commission believes digital assets have high risk.

“SEC is carefully considering regulations to allow both funds to invest in digital assets, whereas the suitable investment ratio must be set. SEC will also limit the types of eligible digital assets, as there are different types with different usages and risk levels,” she said.

Nopnuanparn added that several private companies and investors have asked SEC as to when the digital assets will be allowed as investment options. “This issue will need some time for studying and reviewing all the details. Digital assets are an innovation, and the commission must protect investors from all kinds of risks, while investors must possess a thorough understanding of each type of digital assets as well,” she said.

Supakorn Tulyathan, chief executive officer at Principal Asset Management Ltd, said that investing in digital assets is not a suitable option for long-term portfolios like pension funds, as they have high fluctuation compared to other assets.

“Since the start of 2022, prices of digital assets like Bitcoin and Ethereum have dropped 50 to 70 per cent, whereas Bitcoin has standard deviation value at 60 per cent and Ethereum at 88 per cent,” he said. “Comparing to Thai shares in the past 10 years, they have 19-20 per cent standard deviation and provide 5 per cent return on investment (ROI) on average. Target date portfolios designed for pension also provide 5 per cent ROI on average, and has only 8 per cent standard deviation.”

Supakorn added that the management of portfolios for pensions must consider both ROI and standard deviation, and must deploy strategies such as ‘stay and wait’ and DCA (Dollar-cost averaging) to ensure that investors get the highest return in long term.

“In the last 5 years before reaching the retirement age, investors should adjust their provident fund investment to focus on more stable assets to ensure a steady return,” he said. “For example, one might choose to invest 80 per cent in bonds, 10 per cent in shares and 10 per cent in other assets. This is likely to guarantee 5-6 per cent ROI, which is the same rate as an investment during the 40-year-old period in Thai shares at 25 per cent, foreign shares at 23 per cent, bonds at 50 per cent and trading at 2 per cent.”

Piriya Sambandaraksa, managing director at Chaloke Dot Com, added that Bitcoin is suitable for long-term investment, but not suitable for pension funds. “Pension investment is not about earning profit in long term alone, there is also the need to use the money in the future. This is why digital assets are not suitable for pension as they carry high fluctuation and uncertainty.”

“Although statistics indicate that no one who has been holding Bitcoin for more than five years ever suffers a loss. It is notable that Bitcoin is only 12 years old and there is no telling when the market will collapse,” he pointed out. “If you have invested in Bitcoin and will retire this year, you might be forced to sell your coins at the current market price which is on the downward trend.”

Piriya said he believed that bitcoin can retain its financial value in long term like lands, provided that it is still active for another decade or two. Furthermore, holders can opt to invest in Stablecoins, or cryptocurrencies that attempt to peg their market value to some external reference like a US dollar, to preserve the financial value of their assets and avoid risks from high fluctuation. 

“Bitcoin has the least fluctuation among all cryptocurrencies, and their amount will not be increased drastically in a short period. Furthermore, any investors with adequate knowledge of technology can invest in Bitcoin without the need to go through financial institutes,” he said. “However, it is strongly advised that investors consider the risk of their portfolios carefully, and only invest in digital assets with money that you can afford to lose without major impact.”

Published : July 25, 2022

By : THE NATION

New trends make Thai saving-investment market ‘brightest in SE Asia’

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https://www.nationthailand.com/business/40018143


Thailand’s saving market is projected to grow at an exponential rate as middle-income people and the younger generation seek to increase their wealth through investment, a leading asset manager said on Monday.

New trends make Thai saving-investment market ‘brightest in SE Asia’

The country’s saving and investment market is now the most promising in Southeast Asia, said Eastspring (Thailand) Asset Management CEO Adisorn Sermchaiwong.

Eastspring is the sixth-largest asset manager in Thailand with assets under management (AUM) of around 342 billion baht for a 7 per cent share of the market.

Adisorn was speaking as he launched the firm’s new investment products aimed at tapping the changing investment landscape.

He said more and more people were realising that simply saving money in the bank will not be sufficient for retirement given the country’s lack of pension-style welfare. They would have to seek alternative methods of accumulating and securing their wealth.

However, Thailand’s stock and bond markets could not fulfil this need, he said, adding that to maximise their returns, Thais must become part of the global investor community.

“Between 2015 and 2021, the average annual return on foreign investment was as high as 11.5 per cent, compared to only 4.7 per cent on Thai stocks,” Adisorn said.

To tap that opportunity for new investors, Eastspring has merged its freshly acquired Thanachart Fund and TMB Asset Management. The firm’s new strategic focus will be global investment access with an emphasis on Asia, while providing market insights and a holistic approach with a variety of assets to invest in.

Eastspring currently offers six categories of assets: local equity, fixed income, alternatives assets (property, commodities), foreign investments, tax saving (LTF, RMF, SSF) and investment solutions.
 

The new strategy focuses on foreign investment and investment solutions, advising investors on how to balance their portfolios.

“Our primary responsibility now is to educate Thai people about investment and wealth management so that they can invest wisely and reap the benefits,” said Eastspring’s CEO. “We will collaborate with our partners, such as banks and other financial institutions, to hold monthly online seminars to educate our.”

Eastspring expects the global market to remain volatile due to global uncertainty, high inflation, and geopolitical tension. However, it adds that opportunities still exist in some markets; Thai investors simply need to do more research and consult a reputable asset management firm.

Despite the global economic slowdown, Eastspring has set an AUM target of 400 billion baht for this year, Adisorn added.

Published : July 25, 2022

By : Nongluck Ajanapanya

Bitkub and KOI Thé Thailand launch “NFT(ea) Hunting” campaign using blockchain technology and non-fungible token (NFT)

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https://www.nationthailand.com/business/40018133


Bangkok, July 25, 2022 – Bitkub Blockchain Technology, Bitkub Chain developer and Blockchain Total Solution Provider, together with KOI Thé Thailand, the premium bubble tea originated in Taiwan with total 57 branches in Thailand, revolutionize the beverage and milk tea industry by using blockchain technology and non-fungible token (NFT) in the privilege redemption campaign called “NFT(ea) Hunting”.

Bitkub and KOI Thé Thailand launch “NFT(ea) Hunting” campaign using  blockchain technology and non-fungible token (NFT)

Some experts would say that blockchain technology could be a part to drive both physical and digital economy. Now, blockchain technology is interested by several business sectors including manufacturing, finance, production, agriculture, mining, etc. Not only blockchain technology could revolutionize the business sector, but it could also facilitate the government sector and the citizens.

Under the cooperation between KOI Thé Thailand and Bitkub Blockchain Technology, both blockchain technology and non-fungible token (NFT) will be used in the campaign. Users can collect special limited NFT designs to redeem special drinks and other prizes from KOI Thé Thailand. There are a total of 400 special designs and 1,550 normal designs in these special NFT collections. 

Bitkub and KOI Thé Thailand launch “NFT(ea) Hunting” campaign using  blockchain technology and non-fungible token (NFT)

To redeem special drinks and rewards from KOI Thé Thailand, follow these steps:
1.    Register for digital asset wallet account (Bitkub NEXT) to keep the NFT(s) and KOI Leaf Reward account as a medium of payment.
2.    After the registration, users can use KOI Leaf Reward account to pay for the drinks and will receive NFT limited edition as a reward on digital asset wallet (Bitkub NEXT).
3.    After the payment, users will receive a redemption code on the receipt, which can be redeemed on the Bitkub NEXT account.
4.    Users who collect all six of the NFTs can redeem the grand prize at Bitkub NFT platform.
 

Follow for more news and updates of Bitkub Chain 
Website : https://www.bitkubchain.com/ 
Facebook : https://www.facebook.com/bitkubchainofficial 
Twitter : https://twitter.com/bitkubchain 
Discord : https://discord.gg/WkJ6j279
Telegram : https://t.me/+jiM6dAP5cxUzZTM1

and KOI Thé Thailand
Website: https://www.koithe.com/en/global/koi-thailand
Facebook: https://www.facebook.com/koithethailand/
Instagram: https://www.instagram.com/koithethailand
LINE OA: @koithethailand
Download Application “KOI The Thailand” on App store or Google Play Store (IOS or Android)
Link: https://uqr.to/klrth

#BitkubNFT #BitkubChain #PoweredbyBitkubBlockchainTechnology #Blockchain #KOITH6 #KOIYourDailyBeat #KOITheThailand
 
 

Published : July 25, 2022

By : THE NATION

SEC joins investigation agencies to probe Zipmex

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https://www.nationthailand.com/business/40018129


The Securities and Exchange Commission (SEC) on Monday held discussions with the Department of Special Investigation (DSI) and the Economic Crime Suppression Division about possible lawsuits against Zipmex Thailand.

SEC joins investigation agencies to probe Zipmex

SEC secretary-general Ruenvadee Suwanmongkol led some SEC senior officials in a meeting with the DSI and economic crime suppression officials at the DSI head office on Monday morning over the Zipmex Thailand debacle.

After the meeting, the SEC announced that the three agencies had agreed to join forces to investigate the case as “it may cause a lot of damage to investors”.

The SEC announced that the three agencies would also consider whether Zipmex Thailand had violated other laws apart from the digital assets business act, which is under the SEC’s jurisdiction.

So far, Zipmex Thailand has not yet formally announced the exact amount of damage to its customers, who had deposited their cryptocurrency coins in the ZipUp+ product of Zipmex Global via Zipmex Thailand.

Zipmex Thailand said all the deposits in the ZipUp+ have been frozen because two related crypto exchanges, Babel Finance and Celsius, had suffered a liquidity crunch. Celsius has gone bankrupt. Zipmex Thailand said it would sue Babel Finance for the return of its customers’ digital assets.

Published : July 25, 2022

By : THE NATION

AstraZeneca’s COVID-19 vaccine estimated to have prevented 141,007 deaths in Thailand

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https://www.nationthailand.com/pr-news/business/40018128


With more than 70 million doses delivered to Thailand since the pandemic began, AstraZeneca’s COVID-19 vaccine is estimated to have prevented 141,007 deaths locally, an independent assessment of vaccine effectiveness shows.

AstraZeneca’s COVID-19 vaccine estimated to have prevented  141,007 deaths in Thailand

James Teague, Country President, AstraZeneca (Thailand) Ltd., said: “AstraZeneca’s COVID-19 vaccine has proven to be highly effective in protecting against severe illness and death, and has saved a significant number of lives across Thailand since the pandemic began. Our top priority in Thailand continues to be supporting vaccine and booster coverage, with COVID-19 vaccination remaining the fastest route to national health and economic recovery.”

The analysis conducted by Airfinity, a health data firm, covers the period from 8 December 2020 to 8 December 2021. The data showed that globally, the AstraZeneca vaccine is estimated to have saved more than 6.3 million lives.

Since the pandemic began, AstraZeneca and its global partners have released more than three billion vaccine doses to more than 180 countries, and approximately two-thirds of these doses have been delivered to low- and lower-middle income countries. 

AstraZeneca’s vaccine, which is a viral vector vaccine, and mRNA COVID-19 vaccines, both provide high protection against hospitalisation (91.3-92.5%) and death (91.4-93.3%) after two doses regardless of age, with no statistical difference between them.
 

AstraZeneca’s COVID-19 vaccine estimated to have prevented  141,007 deaths in Thailand

Published : July 25, 2022

By : THE NATION

SEC launches online complaint form for Zipmex customers

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https://www.nationthailand.com/business/40018123


The Securities and Exchange Commission (SEC) has launched an online form to receive complaints from customers of Zipmex Thailand who have lost their digital assets.

SEC launches online complaint form for Zipmex customers

The SEC announced on Monday that after Zipmex Thailand suspended withdrawal of baht and digital currencies deposited in Z Wallet, which is linked with the ZipUp+ product, the SEC had demanded an explanation from the platform.

The SEC said it had also instructed Zipmex Thailand to provide efficient and adequate channels for its customers to file complaints.

The SEC itself wants to make it more convenient for customers of Zipmex Thailand so it has provide an online filling form as well, it said.

The form requires Zipmex Thailand users to fill in their names, citizen or passport ID, phone number or email address, and types and amount of damage.

On July 20, Zipmex Thailand suspended trading on its platform for two hours to disable ZipUp+ from the platform.

Zipmex Thailand CEO Akalarp Yimwilai later issued a Facebook Live announcement that ZipUp+ was a product of Zipmex Global, a key partner of Zipmex Thailand. He said Zipmex Global had deposited coins in ZipUp+ with two crypto lenders, Babel Finance and Celsius, who have suffered a liquidity crunch and could not return the digital assets.

Akalarp said he would sue Babel Finance and Celsius to try to get back the digital assets of Zipmex Thailand’s customers.

Published : July 25, 2022

By : THE NATION

Baht opens weaker, may drop further if China lockdown spooks investors

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https://www.nationthailand.com/business/40018149


The baht opened at 36.66 to the US dollar on Tuesday, weakening from Monday’s close of 36.61.

Baht opens weaker, may drop further if China lockdown spooks investors

The currency is expected to move between 36.60 and 36.80 during the day, Krungthai Bank market strategist Poon Panichpibool predicts.

Poon speculated that a weakening dollar may slow down the baht’s downturn, but the Thai currency may drop to 37 to the dollar if the market shifts to a risk-off state, especially if China enforces new lockdown measures. A new lockdown in China may spook investors into selling their assets in the Emerging Asia market.

Poon, however, does not expect the baht to reach that level this week unless the US Federal Reserve increases the interest rate as expected.

He pointed out that the currency market is volatile and investors are not taking many risks as they were waiting for listed companies’ performance reports and the Fed’s meeting on Thursday.

The strategist has also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

Published : July 26, 2022

By : THE NATION

EU woos Thai investors for its AAA-rated bonds

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https://www.nationthailand.com/business/40018142


The European Union (EU) is inviting investors, especially government agencies, to invest in Next Generation EU (NGEU) programme to help the recovery of EU economies in the post-Covid-19 era.

EU woos Thai investors for its AAA-rated bonds

EU Commissioner for Budget and Administration Johannes Hahn explained that this programme aims to raise 800 billion euros by offering bonds to investors until 2026.

He added that the EU had managed to raise 130 billion euros under the programme so far, but Asian investors who invested in the programme accounted for only 7 per cent.

“That’s why I came here [Thailand] to discuss, explain and invite investors to invest in the programme,” he said.

Hahn said he went to many countries to promote the NGEU programme before entering Thailand, such as the United Kingdom, Japan, South Korea, Malaysia and Singapore, adding that he planned to go to the US and Canada in October.

He said the programme received a good response during the meeting with Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput.

He said the BOT governor understands that these AAA-rated bonds in euro will help increase investment alternatives apart from bonds in dollar.

Hahn said EU will launch green bonds worth 250 billion euros with a system that enables investors to know how the cash is being spent under the programme.

He added that the interest on a 10-year green bond is now 1.6 to 1.7 per cent.

He also confirmed that everyone can subscribe to the aforementioned green bonds, but the EU will focus on attracting sovereign wealth funds and pension funds first.

“This is why our bonds were rated AAA,” he said.

Hahn said Europe is facing supply chain disruption due to the Russia-Ukraine war similar to other countries. He expected Europe’s economy to grow by 2.5 per cent this year and 1.5 per cent next year.

He didn’t expect fuel prices in Europe to return to normal within a year, adding that the supply chain disruption would resolve once China lifts the lockdown measure.

Published : July 25, 2022

By : THE NATION

Former Thai finance minister warns against rapid rate rise

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https://www.nationthailand.com/business/40018135


Former finance minister Suchart Thada-Thamrongvech has urged the Bank of Thailand not to follow the US by raising the interest rate quickly, warning that such a move would hit Thai exports.

Former Thai finance minister warns against rapid rate rise

Hiking the policy rate too rapidly would drive up the baht’s value, undermining the competitiveness of exports which make up 70 per cent of GDP, Suchart said on Monday.

The US Federal Reserve looks set to hike its benchmark by 0.75 points for the second successive month on Wednesday in a bid to curb soaring inflation.

Meanwhile the Thai central bank’s Monetary Policy Committee is expected to raise its key interest rate from a record low at its next meeting on August 10,

The MPC left its key rate at a low of 0.50 per cent in May 2020 after three cuts that year to mitigate impacts from the Covid-19 pandemic.

Suchart urged the central bank not to heed calls from speculators who want the BoT to follow the Fed’s example to avoid baht depreciation and a drop in Thai stocks from foreign outflows.

“If the baht is stronger than other currencies, Thailand’s exports will drop. This will result in reduction of manufacturing output and employment,” he said.

Falling exports would hit GDP and the profits of Thai companies, which see their share price fall.

Suchart added that economists have warned against raising the policy rate too sharply.

“What speculators say will be good in the short term will be bad for the country in the long term.”

He added that inflation in Thailand and the United States were caused by different factors. The US economy had overheated with demand growing faster than manufacturing capacity because of too much cash in the economy.

In contrast, Thailand’s inflation was caused by imports as Thai economic activity was only just starting to recover from low production and employment rates.

He advised a rate rise of 0.25 points, insisting the government must promote exports and the service sector to generate income.

He admitted that a weaker baht would result in higher costs for oil and fertiliser but said the impact would be offset by higher income from exports.

He added that the government could help reduce the fuel price burden on the public by altering the retail price structure and reducing excise tax.

Published : July 25, 2022

By : THE NATION