Channel 3 operator targets THB5bn profit next year from new film studio
SUNDAY, NOVEMBER 27, 2022
The operator of Channel 3 on Saturday unveiled its plan to generate 5 billion baht in profit next year by becoming a giant content provider.
BEC World will invest 2 billion baht to create 30 items of original content per year, especially dramas.
“All dramas will also have English names to penetrate the international market,” said BEC World vice president Piriyadit Choophungart and assistant vice president Panugorn Puengpradit. The content will include films.
The operator will showcase its new creations in the “Asia TV Forum & Market”, the biggest media content market in Asia, they added.
Piriyadit and Panugorn said BEC Studios, which was established in June this year to create content and address problems of filming abroad, will recruit more employees to support production of 10 items of original content per year.
“BEC Studios has reduced production time and costs in the long term as we don’t have to film overseas,” they said.
BEC World has launched film and music operations as well as an integrated marketing communication business in a bid to reduce reliance on TV revenue and become a content provider, the executives added.
The company said it will produce three to five films next year. It expects revenue from the film “Bua Pan Fun Yap”, a collaboration between BEC World and Major Cineplex Group, to start flowing in 2023.
Channel 3’s revenue from January to September this year was 3.89 billion baht, down 5% year on year. The channel’s net profit during the first nine months was 458.2 million baht, down from 466.4 million baht in the same period last year.
The decline in revenue and profit was due to a drop in purchasing power and advertising revenue amid the economic slowdown.
Eppo upbeat on Thailand’s EV industry, expects more foreign investment
SUNDAY, NOVEMBER 27, 2022
The Energy Ministry’s Energy Policy and Planning Office (Eppo) is confident that Thailand will achieve its goal of becoming an electric vehicle manufacturing hub in the Asean region.
Wattanapong Kurovat, Eppo’s director-general, said on Sunday that the National Electric Vehicle Policy Committee recently launched a clear-cut policy to make Thailand into a regional battery electric vehicle (BEV) manufacturing hub.
He added that this policy has been drawing both Thai and foreign manufacturers to the country.
Wattanapong went on to say that the operations of at least two firms indicate that Thailand is moving closer to this goal.
One of the companies is Absolute Assembly Co Ltd, which has the capacity to produce 9,000 electric buses a year, while the other is Amita Technology (Thailand), which makes lithium-ion batteries that power electric vehicles.
Wattanapong said the Amita Technology’s produces ultra-fast charging batteries and its factory is the largest in the region.
“The technology of the two companies plays a crucial part in manufacturing BEVs in the country,” Wattanapong said.
He added that Eppo has spoken to the two firms and gathered their opinions on the government’s policies to promote the manufacturing and use of BEVs in the country.
Meanwhile, Absolute Assembly’s acting general manager Saranyu Sonkamnerd said his company will soon open a second factory and increase its capacity to 50,000 electric buses a year in a bid to meet the rising demand.
He said his company will also boost the use of local raw materials to 80% and import only 20%.
Online TopThai shops give Thai SMEs access to international markets
SUNDAY, NOVEMBER 27, 2022
Thai SMEs are being urged to list their products on TopThai online shops that are now available on seven platforms in nine countries.
Deputy government spokesperson Thipanun Sirichana said on Sunday that the Department of International Trade Promotion (DITP) aims to promote Thai goods via its TopThai shops that are available on Amazon in the US, Tmall in China, India’s bigbasket, Indonesia’s Blibli, Cambodia’s Klangthai as well as PChome in Taiwan and Shopee in Malaysia, Singapore and the Philippines.
Small businesses interested in gaining exposure to these markets can contact DITP, the spokesperson said.
She added that Thai products on Taiwan’s PChome platform are the second most popular after Japanese products.
DITP also plans to open a TopThai shop on the PChome 24h website, which is far larger.
She said the TopThai shop on the Taiwanese platform has proved to be very effective as customers want to purchase products directly from manufacturers.
High-speed railway, MRT Purple Line top govt spending for 2023: NESDC
SATURDAY, NOVEMBER 26, 2022
The Thai-Chinese high-speed railway and the MRT Purple Line are among the top 10 construction projects with the highest investment budget allocated for fiscal 2023, the National Economic and Social Development Council (NESDC) said.
The high-speed railway project, which links up Bangkok and Nong Khai on the border with Laos and requires a total investment of 209 billion baht, has been allocated 18.1 billion baht for next year. The southern extension of Bangkok’s MRT Purple Line from Tao Poon to Rat Burana, which requires a total budget of 91.9 billion baht, has been allocated 10.6 billion baht. These two are the top development projects that require the highest budget in fiscal 2023. The others are the 20.7-billion-baht Rama III-Dao Khanong-Western Ring Road project, for which 8.6 billion baht will be spent next year, and the 17.3-billion-baht project to expand the Government Complex in Nonthaburi, for which 6.1 billion has been allocated. There is also the 42.5-billion-baht Mae Moh Power Plant’s Units 8-9, for which 5.2 billion has been allocated for next year.
Among the top 10 projects, five are related to transportation, three to utilities, and one each related to commercial service. According to the NESDC, the top 10 projects require a total budget of 83.9 billion baht in the fiscal year 2023, accounting for 59.5% of all 65 important infrastructure development projects. The total state budget for fiscal 2023 is 3.18 trillion baht, a 27% increase from the previous year. Of that, 2.52 trillion baht is for regular expenditures, a 0.6% drop from the previous year, and 664.6 billion baht is for investment, a 17.8% increase, according to the NESDC.
Trade group sees 4% economic growth in Thailand next year
SATURDAY, NOVEMBER 26, 2022
Thailand should show strong economic growth next year, the Thai Chamber of Commerce (TCC) said after the recently completed Apec Summit.
Sanan Angubolkul, chair of TCC and Board of Trade, said on Saturday that Thailand should attract some 600 billion baht in foreign investment, in addition to the more than 10 billion baht already spent in the country when leaders from 21 nations under the Asia-Pacific Economic Cooperation convened from November 14-19.
Sanan said a GDP growth of between 3.5% and 4% can be expected next year, as per estimates from the University of the Thai Chamber of Commerce (UTCC).
For instance, he said more than 200 billion baht will be invested in the high-speed railway link between Thailand, Laos and China, as well as the Saudi Arabian project to build crude oil warehouses in the country.
Sanan was delivering an opening speech at the 40th TCC national meeting in Ubon Ratchathani province.
He also said that Thailand can expect to attract some 20 million tourists next year, double the number recorded so far this year. In addition, he said, another 5 million tourists can be expected if China relaxes its restrictive Covid-19 measures in mid-2023 as expected. He added that the Thai Chamber of Commerce has also been working closely with the Commerce Ministry to boost Thai exports. He said this year’s export growth can be as high as 8%, double the original target of 4%.
However, Sanan said, more needs to be done to improve Thailand’s competitiveness, which has dropped to 33rd place in the world from 28.
He also advised Thai authorities to be serious about promoting ease of business and investment so more foreigners will want to invest in the country.
The state-run Digital Economy Promotion Agency (DEPA), in collaboration with private business partner Travizco Technology, a leading Thai travel tech, has introduced ThailandCONNEX as a national tourism platform to help Thai tourism businesses make easier contacts with the world online travel agencies.
This new connection venture focuses on the principle of “win-win sharing income” partly through digital technology to revive the Thai tourism industry after the Covid-19 pandemic. It is expected to boost Thailand’s economy by 12 billion baht.
Asst.Prof.Nuttapon Nimmanphatcharin, President and CEO of Digital Economy Promotion Agency or depa announced at the press conference with Nadhaseth Wongwattanakarn, CEO of Travizco Technology, about cooperation in support and developing platforms ‘ThailandCONNEX’
Nuttapon said that the tourism industry has always been an important engine in driving the Thai economy but behaviour of tourists around the world today prefer to search for and book accommodation, travel and various activities online (OTAs), but Thai tourism operators, especially SMEs, still lack the potential to develop their own online channels and lose a high-profit share when selling services through foreign OTAs. For entrepreneurs who want to increase sales channels and reduce dependence on foreign OTAs, it is difficult to contact OTAs of Thai startups. At the same time, OTAs of Thai startups are growing slowly because of obstacles in terms of funding and credibility. It takes time to access and acquire the tour operators in the system.
Therefore, depa has joined forces with a private sector partner, Travisco Technology Co., Ltd., the country’s leading travel tech, to develop ThailandCONNEX, the national tourism platform to act as an intermediary to connect various types of tourism operators across Thailand with OTAs of Thai startups and OTAs operating around the world. The platform makes it easier for Thai and foreign OTAs to access Thai tourism resources.
Nuttapon Nimmanphatcharin , President and CEO of Digital Economy Promotion Agency (depa).
“ThailandCONNEX is a platform to create business opportunities, reduce dependency on foreign platforms and create added value for the Thai tourism industry. It is expected that there will be more than 100,000 tour operators participating in the platform, with at least 200,000 items of goods and services from tourism operators and expected to create an economic value of more than 12 billion baht, which will help revitalize the economy and be a part in pushing Thailand forward into the digital economy and society era,” Nuttapon said.
Nadhaseth Wongwattanakarn, President and CEO of Travizco Technology.
Nadhaseth Wongwattanakarn, CEO of Travizco Technology, said that Thailand has a very high tourism potential. But Covid has caused the once bustling Thai tourism to become stagnant. Foreign tourists have dropped from 40 million people to less than a million people, and income of more than 3 trillion baht per year to less than 900 billion baht. Operators of accommodations, travel, places and tourism activities including travel agents are all affected.
” Travizco Technology, a travel tech entrepreneur with more than 20 years of experience, is therefore very pleased to cooperate with depa in developing ThailandCONNEX which will help Thai tourism entrepreneurs, especially SMEs to have access to technology. and growing steadily in the midst of the transformation of service models in the digital age,” he said.
ThailandCONNEX is designed to collect Big Data under Personal Data Standards (PDPA) and use AI technology to find characteristics, trends, preferences and needs of tourists. This will be beneficial to entrepreneurs in designing and improving products and services, and to government agencies in formulating promotion policies that will lead to quality tourism along with upgrading Thai tourism operators to be able to compete in the modern era where digital technology plays an important role in daily life.
ThailandCONNEX also has a Token system that will facilitate tour operators with tools to stimulate tourism. Incentives, Repeat Purchases and Alliance with other entrepreneurs as well.
Tourism operators who are interested in joining the national Thailand CONNEX platform can follow up on the advancement at www.ThailandCONNEX.com
Bt600m to fresh up Central Department Store to highlight the “Boundless Playground” Concept
SATURDAY, NOVEMBER 26, 2022
Transforming into an all-time landmark and complete lifestyle destination tailored to all lifestyles across generations
Bangkok, November 25, 2022 — Central Department Store, operated by Central Retail, has announced a festive-season surprise by unveiling “CENTRAL LADPRAO THE NEW LOOK.”
The new all-around revamp will help the retailer transformed the Ladprao’s 40-year-old legendary mall into the “all-time landmark and complete lifestyle destination” under the “Boundless Playground” concept.
A total area of 50,000 square meters include the area of Supersports, B2S and PowerBuy. cementing its position as the leading omnichannel retailer offering the best for diverse lifestyles across generations.
The zones that were revamped include Beauty, Fashion, Luxe Galerie, Home, My Little World, and Living House. The store is also organizing fun activities and special promotions during the grand reveal celebration.
Mr. Olivier Bron, Chief Executive Officer — Central Department Store, under Central Retail, said “From the very first day, Central Department Store never stopped innovating and exploring new ways to create the best shopping experience for our valued customers.
Central Ladprao has been the go-to shopping destination for not only people living in the Ladprao area but for all Bangkokians since 1983. With a 600 million Baht investment, the store has been given a huge revamp and zone expansion to unlock the store’s full potential to serve customers across all demographics, including the younger generation and the workforce with high-purchasing power.
Central Ladprao ranks second among the branches with the most customers in the wealth category, with around 50,000 wealthy clients, trailing behind Central Chidlom. This wealthy group generated over 40% of sales for the branch (as of October 2022).
Strategically located at the important train hub, the re-imagined Central Ladprao will offer the most compressive range of products and services. We expect a 35% surge in traffic and 40% growth in sales, compared to the same time last year.”
Experience “CENTRAL LADPRAO THE NEW LOOK” at Central Ladprao and shop on-the-go with Central’s omnichannel platform, including the 24/7 shopping experience at Central App, chat and shop with a personal shopping assistant at Central Chat & Shop via Line @Centralofficial, Central Facebook Inbox and Facebook Live at Facebook: Central Department Store, or talk to your on-demand Personal Shopper who will facilitate, and inform you of, all the privileges and promotions at 1425.
Michelin awards 189 Thai eateries its 2023 Bib Gourmand label
FRIDAY, NOVEMBER 25, 2022
Opal Varunsuda
As many as 105 restaurants and 84 street food establishments across Thailand were given the Big Gourmand certification for next year’s Michelin Guide Thailand. The names were announced at the 2023 Michelin Star Revelation ceremony held on Thursday at The Athenee Hotel Bangkok.
Tourism Authority of Thailand governor, Yuthasak Supasorn
Of the winners, 53 were first-time entries, while six were upped a level.
“I’m honoured to convey my warmest and heartfelt congratulations to all entries as well as award-winning chefs and personalities in this latest edition of Michelin Guide Thailand,” Tourism Authority of Thailand governor Yuthasak Supasorn said.
“Their dedication to raising the bar in Thailand’s culinary world contributes to the country’s growing reputation as a premier dining destination.”,He added.
The government has been promoting Thai cuisine as a “soft power” to boost the country’s appeal and increase revenue.
Of the Bib Gourmand label winners, 82 are in the Greater Bangkok area, 13 in Ayutthaya, 27 in Chiang Mai, 23 in Phuket, 11 in Phang Nga, nine in Korat, six in Ubon Ratchathani, seven in Udon Thani and 11 in Khon Kaen.
The criteria for the recognition are the quality of ingredients used, taste and creativity in cooking. Value for money, consistency in taste and uniqueness are also taken into account.
Read more about the winners on the Michelin Guide website guide.michelin.com/th/en.
THAI appoints new CEO: Chai Eamsiri, Effective February 1, 2023
FRIDAY, NOVEMBER 25, 2022
On 25 November 2022, Thai Airways International Public Company Limited (THAI) declared that Chai Eamsiri will be THAI Chief Executive Officer from 1 February 2023.
The CEO Selection Committee, consisting of the Plan Administrators, has chosen Chai Eamsiri from 53 internal and external candidates, which include domestic and international executives in the aviation industry and other industries.
The recruitment processes; specifications, selection and evaluation conditions were developed based on the Company’s context under the rehabilitation and privatization processes.
The roles and responsibilities of THAI new CEO were defined in response to the Psychometric test for leadership competency. Candidates were also obliged to present their visions to the selection committee.
With 37 years of experience and knowledge in the Thai aviation industry, Chai has acquired suitable attributes and qualifications for the position in every dimension. He has also obtained extensive financial and accounting literacy which is highly significant in achieving the Rehabilitation Plan amendments including earning new loans, restructuring capital, and managing financial discipline to boost profit and accomplish the plan.
Chai has worked with international organizations and has been entrusted to be in a special working group of business restructuring initiatives in 2020. He has played a vital role in the company’s Rehabilitation Plan implementation and transformation in the past two years.
At present, Chai has the position of THAI Chief Financial Officer before being appointed a Chief Executive Officer on 1 February 2023.
The appointment is a crucial next step to building trust and confidence among the creditors, passengers and business partners.
THAI new CEO qualifying for this open and transparent selection process acquires leadership and initiative competencies.
Under his operation, THAI will accomplish the Business Transformation and Rehabilitation goals with long-term sustainable prosperity.
The airline announced on November 11, 2022, that it made 3.92 billion baht in profit in the third quarter of this year, compared to a 5.31 billion baht loss in the same period last year.
The national carrier said that it and its subsidiaries had recorded a revenue of 32.86 billion baht in the third quarter, up 582% year on year.
Revenue from passengers and cargo stood at 30.89 billion baht thanks to more frequent flights in the first half of the year.
THAI has also reopened routes that were previously closed due to the Covid-19 pandemic.
The total expenses for THAI and its subsidiaries came in at 28.94 billion baht, up 186% from the previous year due to rising operational costs. The price of fuel has risen by 80% compared to the previous year and is responsible for 44 % of the operational cost, THAI said.
As of September 30, THAI and its subsidiaries had total assets of 183.29 billion baht, up by 22.07 billion baht from December 31, 2021. Total liabilities came in at 265.79 billion baht, up by 33.32 billion baht on December 31, 2021.
The shareholders’ equity, meanwhile, is in the deficit by 82.50 billion baht.
However, thanks to fast-growing tickets sales and EBITDA (earnings before interest, taxes, depreciation and amortisation) at over 2 billion baht per month, the company’s cash balance has risen steadily from 6.01 billion baht in March to 13.47 billion baht in June and 23.3 billion baht in September.
‘Beyond the Elephant in the Room’: MIT Media Lab Southeast Asia Forum co-hosted by KBTG and Bangkok Bank
FRIDAY, NOVEMBER 25, 2022
As one of the globe’s top universities, the Massachusetts Institute of Technology (MIT) conducts world-leading research in science, engineering, design and arts, creating cutting-edge technologies capable of changing the world. And now MIT is bringing its expertise to Southeast Asia.
This year, the MIT Media Lab, the institution’s interdisciplinary research lab, is bringing its latest research and insights to Bangkok at the “MIT Media Lab Southeast Asia Forum” from December 19-21. This three-day event will be co-hosted by KBTG and Bangkok Bank in collaboration with True, the MIT Alumni Association and MQDC.
With its mission to create a space to share transformative technologies, state-of-the-art research, and the use of emerging technologies to invent a better and more just future, the event will focus on co-creating new possibilities in Southeast Asia.
The knowledge-packed event will offer deep and immersive learning opportunities to inspire new generations of forward thinkers, open innovations, and spark creative thinking amongst people under the theme “Beyond the Elephant in the Room”.
Addressing ‘the Elephant’, or humanity’s greatest challenges that are often ignored, the event will focus on contemporary technology and the envisioned future that can bring about emerging technologies like Extended Intelligence (AI), Hybrid Realities (Xverse), Augmented Creativity, Cyborg Health, Smart Materials, Digital Currency, Space Exploration, and Sustainability.
A dozen leading experts from the MIT Media Lab, including its students and alumni, will join the event to cover several key topics.
Key Speakers • Dava Newman – Director of the MIT Media Lab, former Nasa Associate (2015-2017), Head of Aerospace Engineering and the faculty leader in Aeronautics and Astronautics and MIT’s School of Engineering for 28 years. Newman has played a key role in Nasa’s human exploration, especially in developing and connecting the human journey to Mars.
• Pattie Maes – Professor at the MIT Media Lab. Maes leads the lab’s Fluid Interfaces research group, researching the intersection of Human-Computer Interaction and Artificial Intelligence, with a focus on applications in health, well-being, and learning.
• Hiroshi Ishii – Professor at the MIT Media Lab. Ishii is recognized as a founder of “Tangible User Interfaces” (TUI) and the founder of the “Tangible Media Group”. His mission is to make digital tangible, by giving physical form to digital information and computation.
• Joe Paradiso – Professor at the MIT Media Lab. Paradiso is the leader of MIT’s Responsive Environments Group, which explores how sensor networks augment and mediate human experience, interaction, and perception.
• Mitchel Resnick – LEGO Papert Professor of Learning Research at the MIT Media Lab. Resnick develops new technologies and activities to engage people (particularly children) in creative learning experiences.
• Deblina Sarkar – Assistant Professor at the MIT Media Lab and Head of Nano-Cybernetic Biotrek research group. Sakar and her group carry out trans-disciplinary research fusing engineering, applied physics, and biology, aiming to develop technology for nanoelectronics devices and to create new paradigms for human-machine symbiosis.
• Danielle Wood – Assistant Professor at the MIT Media Lab and Head of the Space Enabled research group. Wood is a specialist in aerospace engineering systems. She seeks to advance justice in Earth’s complex systems using designs enabled by space.
• David Kong – Director of the MIT Media Lab’s Community Biotech Initiative (CBI). As a synthetic biologist, Kong leads the CBI, whose mission is to empower society with biotechnology.
MIT’s Students and Alumni
• Pat Pataranutaporn – PhD Candidate – MIT Media Lab & KBTG Fellow
Pataranutaporn is the first Thai PhD student in the Fluid Interfaces at the MIT Media Lab and is an author of research on Human-AI Interaction, Bio-Digital Interfaces, and Personalized Education. Pataranutaporn explores the intersection of synthetic virtual humans and synthetic biology, specifically at the interface between biological and digital systems.
• Irmandy Wicaksono – PhD Candidate, MIT Media Lab
Exploring the creative interplay between art, design, science, and engineering, Wicaksono has been working closely with textile and flexible electronics factories, making a strong connection between research and manufacturing.
• Guy Zyskind – PhD Candidate, MIT Media Lab
Zyskind’s research in the Media Lab’s Human Dynamics group focuses on data, privacy, and Bitcoin He brings experience in co-developing multiple start-ups, along with being an instructor at MIT in engineering subjects covering Bitcoin/Blockchain and cryptocurrencies.
• Ziv Epstein – PhD Candidate, MIT Media Lab.
With interests in Computational Social Science, Epstein focuses on new challenges and opportunities that emerge from a digital society, particularly in the domains of social media and artificial intelligence.
This is an opportunity not to be missed, whether you are an engineer, designer, student, tech enthusiast, or working in the business world. You are cordially invited to attend the “MIT Media Lab Southeast Asia Forum” to envision the future together with leading experts.
He added that Eppo has spoken to the two firms and gathered their opinions on the government’s policies to promote the manufacturing and use of BEVs in the country.
Nuttapon Nimmanphatcharin , President and CEO of Digital Economy Promotion Agency (depa).
Nadhaseth Wongwattanakarn, President and CEO of Travizco Technology.
Tourism Authority of Thailand governor, Yuthasak Supasorn
“Their dedication to raising the bar in Thailand’s culinary world contributes to the country’s growing reputation as a premier dining destination.”,He added.
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