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https://www.nationthailand.com/business/corporate/40022398

“Super Balance Thailand 2022” showcases junior balance bike tournament with over 2,000 participants

THURSDAY, NOVEMBER 24, 2022

To support the growth of children between the ages of 1.8 and 5 years old, the Happy and Healthy Bike Lane collaborated with Siam Commercial Bank (SCB) and Airports of Thailand PCL (AOT) to hold a “Super Balance Thailand 2022” national-level tournament.

The event, held from November 19 to 20 at the Happy and Healthy Bike Lane at Suvarnabhumi Airport, sought to promote exercise and strengthen family ties. The response exceeded expectations, with almost 2,000 children and their families attending.

Speaking about the event, Siam Commercial Bank Chairman of the Board of Directors Dr Vichit Suraphongchai, revealed that, “Recognizing the importance of youth development and the promotion of a better quality of life for people in local communities, society, and the nation, Siam Commercial Bank continuously engages in initiatives, either alone or in collaboration with network partners and other organizations. The Happy and Healthy Bike Lane at Suvarnabhumi Airport was inaugurated in 2015 thanks to a partnership between SCB and Airports of Thailand PCL. This world-class cycling park is managed by Cycling Track Management Social Enterprise Co., Ltd. and serves as a place allowing people of all ages and genders to exercise for free.

“In 2020, a new balancing bike park was constructed for young children to enhance physical development, strengthen muscles, and exercise problem-solving skills, which garnered an excellent response from parents who brought their children to enjoy the facility. We kicked off the inaugural “Super Balance Thailand 2022” competition during November 19-20. Over 2,000 children and family members attended the event, highlighting the significance of young children’s physical and mental development for skill-building, promotion of sportsmanship, and extracurricular learning. The time spent together doing these activities can be rewarding.”

The “Super Balance Thailand 2022” tournament was the first of its kind on a national level and a huge success, receiving overwhelming attention and favorable feedback from families. A total of 430 children of varying ages took part in the competition. It also garnered the attention of parents, including cyclists who came to participate in a variety of activities, surpassing all expectations. Young winners took home trophies and medals. In addition to the competition, the event included engaging activities such as plaster and cloth bag painting, “Say No to Plastics” environmental games, and an inflatable playground, allowing youngsters to participate in fun and exciting activities during the course of the two-day event.

The Happy and Healthy Bike Lane at Suvarnabhumi Airport is regarded as a top-tier racetrack and is equipped with top-notch facilities, safety measures, and a quality management system. By hosting this tournament, it encourages the growth of children and serves as a true gathering place for families.

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https://www.nationthailand.com/business/corporate/40022390

Sports apparel, equipment maker Warrix plans IPO this year to pursue expansion

WEDNESDAY, NOVEMBER 23, 2022

Nongluck Ajanapanya

Sports apparel and equipment manufacturer Warrix Sport has revealed plans to list on the Stock Exchange of Thailand by the end of the year in order to transition to a healthy, active lifestyle company.

Wisan Wanasaksrisakul, Warrix Sport’s chief executive officer, told a press conference on Wednesday that the move would help the company get liquidity to expand into other sports-related fields.

He said that Warrix has a registered capital of 300 million baht, which is made up of 600 million ordinary shares with a par value of 0.5 baht each.

The total paid-up capital is 210 million baht, divided into 420 million ordinary shares, and the company will issue 180 million ordinary shares in the initial public offering.

Warrix’s only funding source at the moment is the bank, so listing on the stock exchange will enable the company to expand, including the opening of its first sport sciences centre on Rama 9 Road and a new lifestyle community at Siam Square in 2024, he said.

“Aside from selling our products, the centre offers treatment, rehabilitation, consultation, nutrition knowledge, and specialised courses for football, marathon, golf, cycling, and office syndrome from a team of licenced physiotherapists and professional trainers,” Wisan explained.

He also noted that the funds raised from the “Market for Alternative Investment” (MAI) stock market will enable his company to continue investing in in-house R&D, data-driven transformation systems, and working capital in a variety of projects, including sponsorship of major sporting events such as the Fifa World Cup, AFF Mitsubishi Electric Cup, and Olympic 2024.

He assured retail investors that the company could continue to grow at the same rate as it has since its inception 12 years ago, with a clear and viable goal and path to becoming the leader in the holistic integrated sports, wellness, and lifestyle industry.

Warrix’s main revenue currently comes from the sale of non-licensed products, such as classic, collection, and made-to-order products, with revenue proportions of 34.90%, 28.26%, and 16.21% respectively in the first nine months of 2022.

The rest of the revenue is generated by products in the licensed category, which includes national football team products (12.68% of revenue), football club products (3.99%), and other licensed products (1.89%).

There is also 0.54% revenue from other product sales and 0.47% revenue from physical clinic services.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40022388

European brand Beko eyes bigger share of Thai home appliances market

WEDNESDAY, NOVEMBER 23, 2022

Nongluck Ajanapanya

Beko, a leading European home appliance brand, is planning aggressive moves in 2022-23, with the goal of increasing brand awareness and achieving sales of 2 billion baht by next year.

Beko Thai’s commercial director, Pornchai Trakultechadej, said in an interview the decision was made after the company discovered that less than one in 10 Thai people can still pronounce the proper name of Beko, despite the brand being in the country for seven years.

Some people recognised the brand, but not enough to switch to Beko, he noted.

He revealed that the company plans to double its marketing investment in the Thai market next year, with 85% of the budget, or approximately 200 million baht, going towards digital campaigns focusing on home appliances such as refrigerators, washing machines and dryers, and air-conditioners.

Meanwhile, Beko is targeting 200% growth in online channels with major domestic appliances to contribute around 13% of total market next year, excluding omnichannel.

“We expect our overall sales to reach 1.6 billion baht this year and more than 2 billion baht next year. We still view the overall market positively, as the country’s economy is gradually recovering with the revival of the tourism and services industry,” Pornchai said.

He believes that domestic consumption in the home appliances market has already begun to increase, and that the recovery of the tourism and service industries will provide some liquidity to Thai households, allowing them to replace some of their home appliances, particularly air-conditioners and refrigerators.

Besides, he noted that the increase in the electricity bill next year would push Thai consumers to look for energy-saving models of home appliances to replace old ones.

“Consumer trends today have shifted to emphasise healthy and sanitary living, which aligns with Beko’s goal of promoting healthy living and sustainability through home appliances. As a result, we must raise brand awareness among our target group,” said Pornchai.

Nattinee Techarungnirun, Beko Thai’s marketing and product management director for Asia-Pacific, stated that Beko’s business goal for 2023 is to build strong trust in power and growth while positioning itself as one of Thailand’s top home appliance brands.

“Beko aims to increase brand exposure, brand preference, and drive sales conversion in Thailand, particularly with the help of the right influencers,” Nattinee explained.

Recently, the company revealed its first official Thailand presenter, Bebe Thanchanok Ritnaka, who is highly regarded not only as a healthy lifestyle icon but also as a role model for the modern generation, successful in both work and health.

“We will achieve our goal thanks to our collaboration with Bebe and our advanced but affordable technology,” Nattinee said.

She added that Beko’s premium products segment is driving growth, focusing on pushing large capacity, front-load washing machines, dryers, dishwashers, and coffee machines.

Beko is the international home appliances brand of Arçelik, a multinational household appliance manufacturer with 12 brands and 45,000 employees worldwide. It is now one of Europe’s top three home-appliance brands, focusing on designing and manufacturing energy-efficient products for healthy living.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40022385

Nation Group’s board approves acquisition of Thansettakij for THB240 million

WEDNESDAY, NOVEMBER 23, 2022

The board of directors of Nation Group (Thailand) Plc has approved buying the entire stake of Thansettakij from News Network Corporation (NEWS) for 240 million baht, the Stock Exchange of Thailand (SET) was informed on Wednesday.

Nation Group informed the SET that its board had approved the purchase of 20,074,998 shares, or 100% of shares of Thansettakij Multimedia Company Limited (TMM), from NEWS at 11.96 baht per share at its meeting on Wednesday.

Thansettakij has a registered capital of 200.75 million baht with 20,075,000 shares at 10 baht per share.

Thansettakij is a media company with printed media, TV programmes and online media. Thansettakij also organises events and business seminars.

Following approval from the Nation’s board, the deal is expected to be completed within the next month.

Nation Group already owns Krungthep Turakij, a business-focused media, and with the purchase of Thansettakij, Nation Group’s expertise in business and economic reporting will be strengthened.

Nation Group had acquired other assets during the previous six months and the value of the acquired assets during the six-month period has boosted the value of Nation Group by 55.56%.

Since the new acquisition is from a company related to Nation Group and because of the value of the acquired entity, Nation Group is obliged by the regulations of the Securities and Exchange Commission to inform the SET about the board’s decision.

NEWS is associated with Nation Group and the assets to be acquired are valued at over 20 million baht, hence in accordance with the rules, Nation Group informed the SET.

Because of the valuation of the transaction, Nation Group will need approval from three-fourths of its shareholders.

The board approved the appointment of Finnex Advisory Co Ltd as an independent financial adviser in charge of providing opinions on the purchase of Thansettakij’s shares to Nation Group shareholders at least 14 days before the meeting of shareholders would be held to seek approval for the purchase.

Nation Group CEO Shine Bunnag said the board approved the purchase of Thansettakij’s shares because this investment would strengthen the media group, as Thansettakij is acknowledged as a leading media entity in the country.

“Under the One Nation strategy, Thansettakij will complete the media business of the group to win acceptance from all sectors of society,” Shine said.

He added that Thansettakij would help steer the development of the organisation through synergy of operations among media under the group in terms of content, personnel and other operations in all dimensions for the ultimate benefit of the group.

Thansettakij is a leading media house of Thailand in the economic, finance and investment fields and has been operating for over 43 years. It has a strong editorial operation with potential to generate income from offline, online and on-ground platforms.

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https://www.nationthailand.com/business/corporate/40022384

AMCHAM honours outstanding members with CSR Excellence Awards

WEDNESDAY, NOVEMBER 23, 2022

Neena ML.

The American Chamber of Commerce (AMCHAM) Thailand handed out its annual CSR Excellence Awards 2022, with three additional special awards.

This year three additional special awards were presented to Harmless Harvest, WHA Industrial Development, and PCS Security and Facility Services for focusing on an inclusive society and contributing to the Bio-Circular Green (BCG) economy.

Out of the 100 companies who are members of AMCHAM, 91 were recognised as meeting the minimum criteria to demonstrate a commitment to conducting business responsibly and giving back to local communities, people and people and environment.

Minister of Natural Resources and Environment Varawut Silpa-archa, US Ambassador to Thailand Robert Godec, Thai Trade Representative ML Chayotid Kridakon, and AMCHAM president Jeff Nygaard presided over the awards ceremony.

The AMCHAM CSR Excellence Recognition is awarded to member companies for their long-term efforts to support Thailand’s sustainable development. Qualifying companies should have CSR programmes with measurable results that create both economic and social gains for a year or more, high levels of employee involvement, and strong strategic partnerships with Thai organisations. The company mission must also align closely with the goals of their CSR activities. 

“The BCG economy is a very important initiative that needs to be driven in an economic model because we want to promote the Bio-Circular-Green economy from made, used, recycled, refurbished and create that circle. It’s actually a strength for Thailand as well because Thailand is definitely trying to promote two big things — green energy or renewable energy, and plastic recycling — which kind of affect the beginning of the circle and the end as well,” AMCHAM president Jeff Nygaard, who is also executive vice president of operations and technology of Seagate Technology, said.

In addition, three special awards were given to three member companies:

● The Ambassador’s Award for Excellence in Thai-US partnership went to Harmless Harvest for its “Coconuts Agriculture Project”. The project promotes regenerative agricultural practices among Nam Hom coconut farmers. The award, handed out by US Ambassador Godec, recognises a CSR project that supports innovation in the BCG economic model through US-Thai partnership for transfer of technology or skills.

● Thai Development Award went to WHA Industrial Development for its project “WeCYCLE”. The upcycling project uses water hyacinth fiber from constructed wetlands and recycled PET bottles. The award, presented by Minister of Natural Resources and Environment Varawut, honours a company that fosters sustainable development in alignment with the principles of the BCG model.

● The Excellence in CSR Award was won by PCS Security and Facility Services for its project, “Neighbouring Country Colleagues Programme”. It fosters and invests in a diverse and inclusive work culture. The award, presented by Nygaard, is given to a company that nurtures an inclusive society by embracing diversity to reduce inequality.

“The chamber of commerce membership is comprised of 50% US affiliated and about 33% of Thai companies and another 18% are international, so it’s a big group of companies that share the same values,” said Nygaard.

He stressed during his speech at the opening ceremony that “CSR activities strengthen stakeholder engagement and support, whether they are shareholders, business partners, customers, employees, governments, or the broader community. Our best path for success is when community and industry work together.”

Throughout the year, the CSR Committee shares these best practices with the membership, providing support and resources for member companies who are developing or improving their CSR strategies. Through the AMCHAM CSR Excellence Awards, these companies are awarded for their long-term efforts to support Thailand’s sustainable development.

Neena ML.