SCBX, the ‘mothership’ company of the SCB Group, is currently considering options, including a sale of its subsidiary SCB Asset Management (SCB), according to the company’s letter to the Stock Exchange of Thailand on Monday.
The move came after a Bloomberg report revealed that SCBX has been in talks with financial advisers to explore a potential transaction for SCBAM.
Bloomberg added that a potential deal could value the business at US$1 billion to $1.5 billion (36 billion to 54 billion baht).
SCBX said that SCBAM is an important business for the company’s strategy, adding the company will continue evaluating strategic options, offers and opportunities, including advice from external consultants.
“The discussion on options is currently at the beginning, and the company would like to confirm that there is no certainty that any action will be taken,” SCBX said.
“If there is a transaction, the company will disclose information in line with SET criteria,” it added.
SCBAM was set up on March 18, 1992, to manage mutual funds, provident funds and private funds. According to the company’s website, Its net asset value under management as of May 31 was 1.6 trillion baht.
SCBX Group is embarking on an important mission to join the world’s leading companies in becoming a Net Zero financial technology group by 2050, positioning itself as a pioneer in driving and inspiring society to develop sustainable businesses and help the environment for the next generation.
The Paris Agreement to limit global warming to well below 2, preferably to 1.5 degrees Celsius is a monumental collaboration by the international community to reduce greenhouse gas emissions in order to avert imminent environmental catastrophe. Governments and businesses worldwide are collaborating to expedite policies and coordinate efforts to prevent catastrophic environmental disasters by 2050.
SCBX Group, as a key regional enterprise, recognizes its critical role and responsibility to society and the younger generation, who are heading toward a future that may confront substantially worsened environmental conditions. The Group undertakes to halt all forms of greenhouse gas emissions by establishing an environmental commitment in support of the global agreement that will enable businesses supervised by SCBX Group to achieve a net zero commitment of greenhouse gas emissions from its own operations by 2030 and from lending and investment by 2050, as agreed by the international community in the Paris Agreement through four strategic thrusts.
First, SCBX Group will prioritize the transformation of internal energy operations and management processes and invest in clean energy with the lowest carbon emissions through the adoption of smart building management systems, the modification of equipment and infrastructure, and the replacement of all current vehicles with electric vehicles.
Second, SCBX Group has set aside a credit line of 200 billion baht by 2030 for lending to businesses or projects seeking to focus on reducing greenhouse gas emissions, as well as raising awareness and providing advisory aligning with recommendations by world class consultant.
Third, SCBX Group will invest an initial amount of 200 million USD in global funds and companies focusing on the development of technologies for carbon capture and storage, utilization, reduction and removal, and in the development of platforms necessary to drive a broader carbon footprint reduction, such as an electric vehicle (EV) rental platform.
Fourth, SCBX Group will embrace the global climate change management standard by adopting the Partnership for Carbon Accounting Financials (PCAF) for assessing its greenhouse gas emissions and determine its target in accordance with the Paris Agreement based on the Science Based Targets Initiative (SBTi). SCBX Group is the first Thai financial institution to join the PCAF and SBTi, including the Task Force on Climate-related Financial Disclosures (TCFD) to increase sector-wide transparency.
SCBX Group shares a global concern about the global impact of environmental issues and greenhouse gas emissions during and for the coming decade. The Group has therefore pledged the solid commitment to play a vital role in changing and resolving global warming in every way possible in order to create a habitable planet and a viable business for future generations.
National carrier Thai Airways International (THAI) is refurbishing five planes slated for decommissioning in a bid to expand its fleet ahead of the high season this year.
THAI also believes it will generate up to 80 billion baht in revenue now that foreigners have started returning to Thailand.
The planes set to undergo an overhaul include three Airbus A330s and two Boeing 777-200s, Nond Kalinta, THAI’s executive vice president for commercial, said on Sunday. He added that these planes will be used for routes with high demand like South Korea, Singapore and Japan.
“We believe this year’s high season will see the highest number of passengers in the last two years. The airline expects 4.48 million passengers for the whole year and a total income of 80 billion baht thanks to the lifting of travel restrictions for foreigners since July 1,” he said. “Next year, we expect the number of passengers to rise to 9.18 million and total income to 129 billion baht.”
Nond added that the airline industry is recovering very fast after being hit the hardest by the Covid-19 pandemic for two years.
“For THAI, the average cabin factor is now at 70-80 per cent, with European markets having the highest cabin factor at 90 per cent. The advance booking rate in July is now at 60 per cent and is rising continually,” he said. “Average passengers of THAI and Thai Smile in June this year jumped to 12,568 and 12,257 persons per day, respectively, compared to an average of 269 and 4,929 persons per day recorded between April and October 2021.”
Nond said THAI will increase flight frequency and destinations in the first and second quarters of 2023, introducing more flights to Delhi, Mumbai, Chennai, Bengaluru, Lahore, Karachi, Islamabad, Hanoi, Ho Chi Minh City, Phnom Penh, Melbourne, London, Jakarta, Dhaka, Frankfurt, Taipei, Singapore, Copenhagen, Munich and Zurich.
In the third quarter, the airline will add more flights to Jakarta, Taipei, Singapore, Copenhagen, Munich, Zurich and Seoul.
THAI also recorded 2.1 billion baht income from cargo transport in May, jumping 41 per cent compared to the same period of 2019.
Thai companies clinched 352 business deals worth an estimated 11.6 billion baht with Saudi counterparts at a Bangkok business-matching event, the Commerce Ministry said on Monday.
The July 6 event generated instant trade of 130 million baht, with another 11.5 billion baht expected during the rest of this year, according to Department of International Trade Promotion (DITP) director-general Phusit Ratanakul Sereeroengrit.
Hosted by the DITP and Board of Trade, the event drew representatives from 70 Saudi companies under the Riyadh Chamber of Commerce, most of whom are in the food-and-beverage, construction, healthcare, retail, transport, gem and jewellery industries. “Saudi businesspeople expressed strong interest in ordering more products from Thailand, saying that Thai products are of high quality, meet international standards, and suit the needs of Saudi consumers,” said Phusit.
He added that the Commerce Ministry is expanding the Saudi market for Thai products including rice, halal foods, and fruit by launching promotions in Saudi supermarket chains Manuel and LULU. These events will be held alongside social media campaigns to boost Saudi consumers’ awareness of Thai products, especially food, cosmetics, and industrial products.
The DIPT will also invite Saudi importers and businesses to international trade fairs in Thailand throughout the rest of the year, including the TILOG VE/TILOG-LOGISTIX fair on August 24-26, the Bangkok RHVAC 2022 fair on September 7-10, and Bangkok Gems & Jewelry Fair on September 7-11.
Saudi Arabia is Thailand’s 17th largest trade partner and ranks second among Middle Eastern nations. In the first five months of 2022, two-way trade between Thailand and Saudi Arabia totalled 122.23 billion baht, up 45.56 per cent from the same period last year. Thai exports contributed 25.69 billion baht, up 23.3 per cent, while imports were at 96.53 billion, up 54.31 per cent from the same period last year.
Key Thai exports included automobiles and auto parts, wood and wooden products, rubber products, canned and processed seafood, and machinery and parts. Saudi exports to Thailand comprised crude oil, chemicals, fertiliser, pesticide, finished oil and scrap metal.
The burst of trade comes after the two countries normalised ties in January following three decades of soured relations.
The baht opened at 35.82 to the US dollar on Monday, strengthening from Friday’s close of 36.01.
The Thai currency is expected to move between 35.75 and 35.90 against the greenback during the day and between 35.70 and 36.30 during the week, Krungthai market strategist Poon Panichpibool predicted.
Poon said the baht is likely to weaken and test its resistance level from 36.20 to 36.30 if the dollar strengthens. He suggested investors beware of the baht’s volatility before the US inflation report has been revealed.
However, the baht’s weakening might be limited as exporters are waiting to offload their dollars. Moreover, foreign investors are waiting to buy Thai stocks on the dip and the sale of gold will also help slow down the baht’s weakening.
Poon speculated the dollar might strengthen if the US inflation is higher than expected and the US Federal Reserve sends a signal to increase the interest rate at a high rate. The dollar might also strengthen if the Chinese or European economic reports are worse than expected.
The strategist advises investors to use hedging tools like options to manage their risks in the highly volatile currency market.
Average monthly household expenses rose to 18,088 baht in June – two times higher than the minimum wage, according to a survey by the Commerce Ministry’s Trade Policy and Strategy Office (TPSO).
The TPSO said rising living costs driven by the energy crisis caused headline inflation in June to rise to 7.66 per cent from the same month last year.
The TPSO divides household expenses into 14 categories, with transportation costs, rent and utilities sucking up 8,432 baht or 46.62 per cent of total average expenses.
The TPSO calculates average monthly household spending on each category in June as follows:
– Transportation costs, vehicle instalments, fuel, and mobile phone: 4,477 baht (24.75%)
– Rent, home construction materials, electricity bill, cooking gas and household appliances: 3,955 baht (21.87%)
– Meat, chicken and fish: 1,752 baht (9.68%)
– Food ordered by delivery services: 1,585 baht (8.76%)
– Eating-out cost: 1,214 baht (6.71%)
– Medical expenses and personal services (barber fee, for example): 967 baht (5.35%)
– Fruit and vegetables: 918 baht (5.08%)
– Books, study, recreation, social contributions: 758 baht (4.19%)
PMG Corporation, in collaboration with governmental sector, private sector and financial institutions, organized the special event with over 200 booths of best business franchises to provide smart solutions for SME, loans for business expansion, and seminar forums on occupational knowledge, know-how and training.
The ‘Smart SME EXPO 2022’ event was held with purpose to turn crisis to be the good chance for careers, entrepreneurs, new business set-up and update of business trend for more success. It is a HYBRID EXPO offering the full options both on-site and on-line, organized during July 7-10, 2022 at Hall 7-8 of Impact Muang Thong Thani. The exhibition is expected to drive occupational inspiration for general public and strengthen the SME business sector. Cash flow over 400 million baht and loans from financial institutions not less than 2,000 million baht are expected to be generated in this event.
Mr Sinit Lertkrai, Deputy Minister of Commerce and chairman for Smart SME EXPO 2022, stated “Covid-19 epidemic and the downturn of trading sector are bringing severe effect to the economic situation in Thailand. Organization of finance and business events in this year is a great chance and hope that Thailand economics will get better gradually. It’s very appreciative for the organizers presenting altogether the best SME and various corporations in approach to current situation. This year, the Ministry of Commerce, by the Department of Business Development, also proposed the well-trained and smart SME businesses, with objective to bring the challenging opportunity for entrepreneurs and enforce Thailand economic growth and sustainability onwards.”
Mr Vichate Tantiwanich, President of PMG Corporation, organizer of Smart SME EXPO 2022, stated “This exhibition is held once a year and this time is the 8th event. This year is also the 20th anniversary of PMG Corporation. With a vision for Thailand SME, the company established the fund ‘Chee Chong Ruay’ for occupation opportunities, in collaboration with ‘Chee Chong Ruay’ media channels, successful entrepreneurs and the Right-Livelihood Foundation, sharing partial profit to set-up the fund for occupations for unemployed people, such as single mothers and underprivileged people. The career skills and equipment are provided for them to increase earnings.”
In the event ‘Smart SME EXPO 2022’, you will experience distinguished and impressive 5 business zones: interesting franchise businesses zone, food & beverage zone, financial institutions and sponsors zone, beauty & health zone, and innovation & technology zone. Over 200 booths of the business franchises are presented for the investment options ranging from thousand to million baht. Participating businesses include Mr.Tempu, KangFu Shabu, SomTam Nua Nua, ChaNom Am Tea, Look Chin Yuen Kin Jae Pong, KraPrao KhaoTa, Yumyua by pukeeprick, Sushi Champion, HANA lifestyle franchise, Jae Nui MhooKrob, M&G stationery shop, DUCK GROUP vending machine, SABUY TECH, Dada RuamSaap, 24hrs Coffee, MaeNate KhanomKrok Singapore, Pang Kon Thong, LE MONG Ramen, SWEET SECRET, KAIKAO, etc.
Moreover, 40 franchise businesses under support of the Department of Business Development, Ministry of Commerce, also participated in this EXPO, such as Pang-ai-ya, See U Waffle, Olino Crepe & Tea, Sainom’s, Papa pizza, Egg All Day, SriFah bakery, Toro fries, TiewRua yutya noodle, Nigiwai Sushi, HongTeh Pedyang Hiso, Indy noodle, Korean-Japanese food, Big Tokyo crepe, Rosboran Station, Chalawan milk tea, Mhee Puan Nom Pun, Shibachan Pang Twist, Rrabica Ezan coffee, Chob Cha, Wonder Wash, SHIPPOP, BEST Express. Famous street food vendors are also present, such as Minimelts (Thailand) ice creme, Farang PadThai, Meeyang Gaoloo, YangHom Mai La Saen, Coffman Coffee, Cake Jew, Ka La Luem Phua, Cocoa I Ton, and over 2,000 vending locations in Tesco Lotus Department Store in all regions are the options for you to set-up the business branches.
The low-interest loans from banks are also offered for entrepreneurs and vendors, including loans from the Government Saving Bank (GSB), SME D Bank, EXIM Bank, Bank for Agriculture and Agricultural Cooperatives (BAAC) and Government Housing Bank (GHB). Business can also meet with financial counsellor team from Thai Credit Guarantee Corporation for loan consulting.
“Although Covid-19 situation is still ongoing, business development and life must go on. We hope this event would help promote career opportunities and new business entrepreneurs with over 400 million baht cash flow and not less than 2,000 baht loans,” Mr Vichate concluded.
If you are seeking new franchises, careers and challenging opportunities, do not miss this specular event “Smart SME EXPO 2022” at Hall 7-8, Impact Muang Thong Thani, during July 7-10, 2022.
Despite mobile broadband coverage in 96% of the region, it has the largest regional usage gap worldwide
Thailand (July 8, 2022) – The GSMA has published its latest Mobile Economy Asia Pacific 2022 report, which delivers a detailed picture of the region’s adoption of mobile internet. At present, mobile broadband networks cover around 96% of the population, a testament to operators’ investment in 3G, 4G and, increasingly, 5G infrastructure. However, just 44% of the population (1.23 billion users) are using mobile internet services.
The reasons for this discrepancy include lack of digital skills, affordability and online safety concerns. This year’s report outlines how countries are addressing this usage gap.
“Addressing the usage gap and extending the benefits of the internet to more people in society is critical,” said GSMA’s Head of Asia Pacific, Julian Gorman. “However, it will require a concerted effort by a broad range of stakeholders, working together with mobile operators and other ecosystem players such as device manufacturers and digital content creators, to drive adoption and overcome the barriers we see today.”
Mobile delivers economic and societal benefits
Mobile technologies and services continue to make a significant contribution to Asia Pacific’s economy, generating 5% of GDP in the region in 2021, which equates to around $770 billion of economic value. This ecosystem supported approximately 8.8 million jobs in 2021 and made a substantial contribution to the funding of the public sector, with around $80 billion raised through taxation.
400 million 5G connections by 2025
5G adoption is set to accelerate across the Asia Pacific region as the technology’s footprint expands. Today, it is commercially available in 14 markets, with others, including India and Vietnam, going live in the coming months.
According to the report, by 2025, there will be more than 400 million 5G connections, equivalent to just over 14% of total mobile connections. Progress is more advanced in countries like Australia, Japan and South Korea and in Singapore 5G is expected to account for 55% of the country’s connections by 2025.
Metaverse momentum in Asia Pacific
The report also explores the advent of the metaverse and highlights various 5G use cases and other related activities in the region.
Notably, government bodies in the region have started outlining plans to harness the potential of the platform to increase the efficiency and quality of public services. South Korea has plans to spend $186.7 million to create its metaverse ecosystem, and Thailand’s Tourism Authority leveraged the technology to boost tourism in the country.
Policies for digital innovation
Policymakers and regulators can fuel growth and innovation by establishing a flexible forward-looking regulatory regime to support mobile network deployment and operations. The report provides insights on focus areas where regulatory reforms would yield maximum rewards for the region.
Mobile 360 Asia Pacific in Singapore
APAC’s adoption of 5G will be centre stage at the GSMA’s Mobile 360 Asia Pacific conference on 2-3 August 2022 at the JW Marriott South Beach Hotel in Singapore. The two-day agenda will include thought-provoking keynotes and discussions on how a digital nation strategy is essential in the post-pandemic global economy.
Thailand’s economic recovery from the Covid-19 fallout should become visible in third quarter of this year thanks to the influx of tourists sparked by the lifting of entry restrictions.
“We estimate the gross domestic product [GDP] expansion for the year to be in the scope of 2.5 to 3.5 per cent or an average of 3.1 per cent year on year,” rector of the University of the Thai Chamber of Commerce (UTCC) Thanawat Polvichai said on Thursday.
Thanawat is also chief adviser to the university’s Centre for Economic and Business Forecasting.
“The expansion in the third quarter will be the most prominent at 4.1 per cent year on year, while in the last quarter it will be 3.8 per cent. Thailand can expect some 6 to 8 million tourists this year, generating revenue of around 50 billion baht per month,” he added.
The centre also said the export sector will expand 5 to 7 per cent year on year, while the average inflation rate will be 6.2 per cent.
“The inflation will peak at 7.6 per cent in the third quarter as manufacturers will gradually raise their prices to cope with rising costs from surging energy prices. However, this will come down to around 5.5-6.5 per cent in the last quarter,” he said.
Thanawat, meanwhile, estimates that the Monetary Policy Committee will up the policy rate three times this year from July onwards to tackle inflation. By yearend, Thailand’s policy rate should be 1.25 per cent.
UTCC also said that Thailand’s Consumer Confidence Index (CCI) rose to 41.6 in June, up from 40.2 in May and the highest in six months.
“Our survey shows that consumers are starting to feel a slight revival of the economy as the Covid-19 situation is improving and restrictions are being lifted, especially for foreign arrivals,” Thanawat said.
“Consumers are, however, concerned about the rising price of fuel and cost of living, weakening of the baht and impact of the Russia-Ukraine war that might further drive up the global price of oil.”
MSD is on a mission to provide affordable quality health solutions for Thai people with the latest innovations in drugs and vaccines, says its country chief.
Mary Srethapakdi, managing director of MSD (Thailand), said a major challenge in being a biopharma leader is not only innovating to create new drugs but also making them accessible and affordable to the majority of society.
Innovation is MSD’s standard, but it would be pointless if the resulting drugs did not help people, Srethapakdi explained.
“We have been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our purpose to save and improve lives.”
MSD, also known as Merck & Co in the United States, is a global biopharmaceutical company founded more than a century ago. Its primary mission is to discover and develop new therapies, vaccines and medicines that address unmet medical needs in order to save and improve lives.
Focusing on cancer MSD Thailand’s main focus is combating cancer, which is the Kingdom’s leading cause of death after traffic accidents.
MSD’s breakthrough cancer treatment is known as immunotherapy. It uses the body’s immune system to kill cancer cells without damaging normal healthy cells.
In addition to new cancer treatments and medicines, MSD has developed vaccines against the human papillomavirus (HPV) that causes cervical cancer – and research is ongoing to determine their potential in preventing other types of cancer. Other MSD vaccine innovations protect against the viruses, fungi, and bacteria responsible for a wide range of diseases, including pneumonia, meningitis and sepsis.
Meanwhile, the company has produced Molnupiravir, the world’s first pill to treat symptomatic Covid-19, which is now being rolled out across the world.
Making drugs accessible and affordable As the leading pharmaceutical company in Thailand and the region, MSD has invested heavily in bringing global clinical trials for new drugs and vaccines to Thailand, said Srethapakdi.
“Every baht of our investment in conducting a clinical research study generates around three times the ROI [return on investment] for the Thai economy, according to Deloitte’s clinical research impact study in Thailand,” she said.
Beyond the heavy investment in research and development (R&D), the company is also looking at innovative ways of securing additional public funding to tackle the challenge of access to drugs.
Although Thailand is an upper-middle-income country, not every citizen can afford to pay for medicines. Therefore, many patients are unable to obtain drugs and vaccines if public funding and other solutions are not provided, she said.
In her view, a strong and sustainable healthcare system can only be created by involving its multiple stakeholders.
The pandemic, she said, has reinforced this by showing the importance of partnership between the government, medical experts, and the private sector in solving healthcare challenges of Covid-19. For example, MSD collaborated with Thailand’s Public Health Ministry as well as medical experts to deliver antiviral Molnupiravir pills for Thai Covid-19 patients in March this year.
Meanwhile, MSD Thailand was also able to supply the first full-cohort HPV vaccine for 400,000 Thai girls in 5th grade, as part of the government National Immunisation Programme (NIP). Vaccination will protect the girls against developing cervical cancer in later life.
Supporting Thailand’s medical tourism hub Apart from helping Thai patients to access and afford the latest drugs and vaccines, MSD is backing Thailand’s mission to become a regional hub for medical research and development.
“We believe this will also strengthen the country’s position as a medical tourism hub in the region as well,” Srethapakdi said.
To boost that mission, MSD is running several clinical research studies that provide Thai physicians with early experience of new technologies and therapies, allowing them to strengthen their expertise and reputation as leading experts in the region.
Another advantage of clinical research studies is that Thai patients get early access to newly invented drugs.
MSD believes that Thailand is now in a good position to bolster its status as an Asian medical hub. Thailand already provides high-quality, internationally recognised, and cost-effective medical services.
“We believe it is critical for Thailand to continue to ensure the availability of innovative or cutting-edge medicines in order to strengthen its position,” Srethapakdi said.
Meanwhile, with Covid-19 set to become an endemic disease, the company is committed to pushing scientific breakthroughs that address unmet medical needs in order to save and improve lives.
“As a leading research biopharmaceutical company, we will continue to develop new medicines/drugs and vaccines to combat new and emerging diseases as well as other existing health challenges,” she added.
Infectious diseases continue to be a significant health burden in Thailand, and MSD has a robust portfolio that includes antivirals, antibacterial, and antifungals to address patient needs in Thailand.
“We are optimistic about the trend for the biopharmaceutical industry in Thailand and globally. And I think that the pandemic has increased awareness as to the importance of healthcare.”
She added, however, that the main challenge is to develop the drugs and ensure they reach patients and consumers worldwide who desperately need them.
Listening is the key to success To meet that challenge, MSD encourages employees to be innovative. And the key to creating a culture of innovation was to listen, explained Srethapakdi, the first woman to become MSD managing director in Thailand. An environment of trust and respect comes first from listening, she added.
Besides creating an open and transparent environment and co-working relationship, her role as leader is to help employees succeed with their goals – not to tell them what to do.
“That means coaching them, supporting them and very importantly removing the challenges or things that block them from becoming successful.”
She also expressed her passion for the “speak-up culture” at work, in which people feel safe to share different ways of thinking and are not afraid to say if they disagree or think differently.
To that end, the company actively promotes diversity and inclusion, breaking down hierarchies so that people at all levels of the organisation feel safe to speak up.
Meanwhile, since MSD’s ultimate goal, said Srethapakdi, is to improve the lives of patients and consumers, the company must first and foremost be a trusted partner of the healthcare ecosystem. Only then can it make a real difference in three areas that MSD believes will ultimately drive access.
The first is Awareness. This entails working with the MSD medical community to provide more information about diseases and treatment options.
The second is Availability: Making sure that Thai patients and consumers have the latest drugs and vaccines available to them.
And the third, which is possibly the most difficult, is Affordability. This requires collaboration with government players to find a solution for self-pay patients, she said.
“We at MSD Thailand are very committed to working with all partners within the healthcare ecosystem to improve the well-being of patients and consumers in this country.”
She concluded by pledging to expand access for Thai patients and consumers as well as engaging the entire organisation to drive for greater collaboration, increase the speed of action, and enhance creativity to achieve MSD’s aspiration of improving patients and consumers’ lives in Thailand.
SootinClaimon.Com 