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https://www.nationthailand.com/business/corporate/40023800

BGI Group to co-develop “International Innovation Center for Life Science” with Thai government

SATURDAY, JANUARY 07, 2023

Wang Jian, Chairman & Co-founder of BGI Group, announces his recent visit to Thailand to speak to General Prayut Chan-o-cha, Prime Minister and Minister of Defense of Thailand, and discuss medical genomics and the development of life sciences with the public sector and other organizations.

Wang Jian expressed the hope to seek cooperation between government organizations and partners in Thailand to establish the “International Innovation Center for Life Science” in Thailand in the future, positioning Thailand as a regional hub for medical genomics, and a center for treating thalassemia, and actively preparing to provide relevant services available to the Thai public. 

Additionally, Wang Jian met with Anutin Charnvirakul, Deputy Prime Minister and Minister of Public Health, and Sathit Pitutecha, Deputy Minister of Public Health to discuss the expansion of cooperation with the public health system and further development of life sciences in Thailand.

“We truly believe that the creation of the “International Innovation Center for Life Science” will be finally achieved, because Thailand has many internationally recognized medical teams and a high level of medical advancement and standards,” he said. “Additionally, Thailand has national policies that support development in the field of genomics. As a result, we are confident that both parties will expand their collaboration in a variety of ways, such as expertise, education, and personnel training and exchange with the assistance of related organizations.” 

“As the old saying goes, ‘Teaching people how to fish is more effective than giving a fish to them.’ This cooperation will enable the younger generations to keep pace with the development of cutting-edge technologies and enable the world’s leading modern technologies to serve Thailand and benefit the Thai public,” he added.

Wang Jian stated that BGI and Chalermchai Sri-on, Minister of Agriculture and Cooperatives, has discussed further cooperation around development, innovation and research. BGI has achieved success cases in many areas of China, and developed the rice technology to grow rice that can be sowed once and harvested multiple times over three to five years. This perennial rice features the reduction of the cost on seeds, fertilizer and water. Energy consumption such as labor force and other resource requirements will be reduced, resulting in a decrease in carbon emissions and global warming. Both parties will further make discussion in terms of this study.

“Over the past twenty years, I have held onto the ideal and the belief that Omics for all and related technologies will benefit mankind. BGI has its own unique strategic thinking in scientific development, technological innovation and industrial development. Additionally, we actively encourage innovation in talent and technology, and reduce industrial costs by way of large-scale development, thus reducing the incidence of diseases, and making everyone enjoy a healthy life. BGI plans to cooperate with government organizations and partners in Thailand to conduct preventive screening for genetic diseases and realize the prevention and control of cancer with genetic technology. Besides, we offer assistance in having control over infectious diseases around the world, and achieving the purpose of benefiting mankind in an in-depth way,” he said.

BGI, headquartered in Shenzhen, People’s Republic of China, established in 1999, is committed to taking part in the Human Genome Project. It has over 10,000 employees in 100 countries and regions worldwide. It has published more than 4,000 research papers, more than 400 of which appear in leading scientific journals, such as Nature, Science, Cell, and New England Journal of Medicine. Moreover, it obtained more than 1,700 patents. BGI Genomics, a subsidiary of BGI, has been listed on the Shenzhen Stock Exchange. MGI Tech Co., Ltd., a subsidiary of BGI, has been listed on the Shanghai Stock Exchange in 2022. According to 2022 Nature Index, BGI ranks eighth globally and first among life science industrial institutions in the Asia-Pacific region.

To combat the pandemic that has raged around the world in recent years, BGI performs pathogen genome sequencing and has successfully developed a diagnostic kit for the SARS-CoV-2 virus, which has been recognized internationally and approved for its use worldwide. In addition, BGI sequenced and successfully developed a diagnostic kit for both SARS virus and avian influenza in 2000 and 2004, respectively.

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https://www.nationthailand.com/business/corporate/40023765

Digital pharmacy platform ARINCARE unveils plan for IPO to list on SET by 2026

THURSDAY, JANUARY 05, 2023

Nongluck Ajanapanya

ARINCARE, a Thai startup that provides digital platforms to pharmacists and drug stores, has unveiled expansion strategies to meet the growing demand in Thailand. The startup aims to launch an initial public offering (IPO) and list on the Stock Exchange of Thailand (SET) by 2026.

The move to list on the SET follows the the company’s successful US$4-million Series B funding round with two new investors — Chularat Hospital Group (CHG), and PTG Energy Pcl, an energy provider and service station.

ARINCARE provides a pharmacy management platform for drugstores, medicine express for business-to-business supply chain service and telepharmacy service.

Teera Kanokkanjanarat, CEO and co-founder of ARINCARE, told a press conference on Thursday that with CHG coming on board as the lead investor in this round of funding, and PTG as a follow-on investor, the company would be able to nurture and enhance the Thai health tech ecosystem in accordance with the company’s road map.

He said the fund would be divided into three parts. The first component will be used to enhance supply chain infrastructure, the second part for technology development, and the last part for the preparation of its internal management so that ARINCARE can go public in the next three years.

ARINCARE would continue to expand its markets in a key cooperation with Chularat Hospital Group (CHG) in 2023, Teera said, adding this collaboration is focused on building a connected healthcare ecosystem between hospitals and local healthcare organisations. 

They would be connecting Arincare’s network of over 3,000 drugstores and pharmacists with CHG’s medical team.

“This will build healthcare capabilities into the community with nationwide coverage,” Teera explained.

At the same time, the partnership with PTG’s MaxCard, a network with the greatest access to Thai consumers, will strengthen operation of local pharmacies by adding healthcare services to Thai consumers through the MaxCard privilege. 

Meanwhile, ARINCARE remains on track to list on the SET and launch an IPO in 2026, he said.

Teera Kanokkanjanarat

Teera said he strongly believes that with this model, ARINCARE could better penetrate its target groups, resulting in over 100% growth and enabling pharmacies and drugstores to deliver the greatest benefit to consumers.

Teera pointed out that the combination of the Covid-19 pandemic and Thailand becoming an ageing society had led to many consumers paying more attention to their own and their families’ health. This trend has resulted in a promising growth of the healthcare market as well as rapidly rising demand for pharmacies and drugstores.

Along with this, he pointed out that government public health systems are insufficient to meet current demand, whereas private health services, such as clinics and hospitals, are concentrated in large cities or communities and charge high service fees.

“Community pharmacies and pharmacists are a gateway for people to better access health services, especially when connected to a healthcare ecosystem, on a platform dedicated to addressing inequalities, so that all Thai people have equal access to public health service systems through the medium of technology,” he said.

Thailand currently has approximately 20,000 pharmacy outlets around the country, 80% of them are small and medium enterprises and only 20% are franchisees or large operators, Teera said.

In 2022, the market was worth 40 billion baht, growing on average by 7% annually. This expansion is expected to continue at a rate of 13-17% per year, reaching 190 billion baht in 2025.

Dr Kumpol Plussind, CHG’s chief executive officer, said that bringing technology to the ARINCARE platform, specifically its e-prescription system, would yield opportunities to combine both in-patient and out-patient treatments in a seamless upgraded service for good quality of life.

“This reduces the number of prescriptions that are missed, forged, or reused. This also allows for easy monitoring of patients’ medical treatment, medical adherence, and easy access to patient medication records without additional fees,” he noted.

Pitak Ratchakitprakarn

Meanwhile, Pitak Ratchakitprakarn, president and CEO of PTG, was pleased with their joint investment in ARINCARE. He said the move would assist PTG in improving its service stations to meet a variety of people’s needs, such as convenience stores and pharmacies. This would also expand PTG’s business opportunities, he said.

“It is part of PTG’s objective to increase the proportion of non-oil businesses to 60-70% by 2026, in line with the global trend to reduce reliance on fossil fuels. We are transitioning from the oil business to eight non-oil business sectors, including food and beverages, digital platforms, wellness and healthcare,” he stated.

Teera was confident that the major collaboration with CHG and PTG would come out with new lines of business, underlining ARINCARE’s mission of “Make Healthcare Affordable”.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40023761

Leasing and renewable energy firms launch JV to promote solar rooftops

THURSDAY, JANUARY 05, 2023

Nongluck Ajanapanya

Saksiam Leasing (SAK), a Thailand personal loan provider, has formed a joint venture with TC Renewable Energy to form with the goal of entering the solar rooftop system installation business and providing financing to Thai households nationwide.

The joint venture, Saksiam TC Energy Co Ltd, will have a registered capital of 50 million baht, with SAK and TC Renewable Energy Co Ltd holding 35% and 65%, respectively. This joint venture is scheduled to launch in January 2023.

Siwaphong Boonsalee, SAK’s managing director, said at a press conference on Thursday that the joint venture is a significant step in expanding the service of providing loans for the installation of solar rooftop systems at residential properties, and supporting the public’s access to solar power as a clean and widely available source of energy.

He said the decision was made after SAK saw the potential for growth of the solar rooftop installation business in the future because of the government’s policy to promote the use of clean energy in the business and household sectors.

Furthermore, as the system has already proved effective in lowering electricity bills, the demand for solar rooftop from households is increasing.

According to TTB Analytics, the solar rooftop market in Thailand is expected to grow at 22% per year, reaching 6.7 billion baht by 2025.

However, Siwaphong pointed out that one of the biggest challenges for installing solar rooftop panels right now is a lack of funds.

“The cost of installation is approximately 200 thousand baht, which is quite high. So, after partnering with TC Renewable Energy, SAK will provide an eight-year soft loan with a low interest rate for households, particularly upcountry, to have their own solar rooftop,” he said.

He explained that each household could repay the loan with money saved from their electricity bills.

In an era when utility prices, particularly for electricity, are rising, SAK is confident that loans for the installation of home solar rooftop systems will help reduce costs for the public, thereby strengthening household economies, he added.

SAK will be in charge of marketing and providing solar rooftop loan services to interested parties through more than 1,029 branches across the country by the first quarter of 2023. Saksiam Leasing’s loan portfolio promotes diversity and responsiveness to public needs.

Phurit Laocharoen, chief operating officer of TC Renewable Energy, noted that the company has more than 10 years experience in solar rooftop design and installation. This partnership is a significant step for the company in transferring that knowledge from the business sector to the residential sector.

He explained that currently there are two types of solar rooftop systems available, but the more popular option is the On Grid system, which must be connected to a local Electricity Authority’s power grid.

If the solar panels generate more electricity than is needed during the day, the meter owner may sell the excess to the government. The current purchase price is 2.20 baht per unit.

“On average, the installation of solar panels helps customers save electricity costs by at least 70% per billing cycle, or around 2,000 – 7,000 baht per monthly electricity bill,” said Phurit. “A single solar panel can last 30 years. So, using a solar rooftop will be beneficial in the long run.”

In addition, the company will provide maintenance and performance monitoring services for the duration of the system’s service life. Engineers will evaluate the system’s performance to ensure that solar energy generation is efficient and cost-effective in the long run, he added.

The goal of the collaboration between SAK and TC Renewable Energy is to instal solar rooftops covering at least 100,000 households within the next three years. Besides, this joint venture will be able to generate approximately 500 megawatts of electricity from solar power, with a revenue of around 1 billion baht.

Nongluck Ajanapanya