PTG Energy plans to expand its non-oil businesses soon and strengthen its stake as the second-largest market share holder in Thailand. #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/business/40007597


PTG gets ready to accelerate growth in non-oil businesses Petrol service provider PTG Energy plans to expand its non-oil businesses soon and strengthen its stake as the second-largest market share holder in Thailand.

PTG president Pitak Ratchakitprakarn said the company has shown slight growth this year, with market share rising by 4.2 per cent and sales by 8.4 per cent. The factors contributing to the growth include a jump in total Max Card members to 16.3 million and more PTG petrol stations bringing the total nationwide to beyond 2,200.

Pitak reckons the company will have 30 million Max Card members by 2026 and said the card will be renamed “Max World” as it will connect users to other PTG businesses.

Once the Covid-19 situation comes to an end, PTG also plans to get listed in the Stock Exchange of Thailand. The president added that PTG is planning to boost its investment in more non-oil businesses.

For instance, he said, PTG should have up to 2,000 PunThai Coffee outlets in Thailand and CLMV countries (Cambodia, Laos, Myanmar and Vietnam) in the next five years. Of these, 70 per cent will be in PT petrol stations and the remainder elsewhere.

Pitak also said PTG’s Coffee World brand is being given a new look to make it more competitive in the market.

PTG Energy plans to expand its non-oil businesses soon and strengthen its stake as the second-largest market share holder in Thailand.PTG Energy plans to expand its non-oil businesses soon and strengthen its stake as the second-largest market share holder in Thailand.

He predicts the proportion of revenue generated from PTG’s non-oil businesses will rise by around 60 to 70 per cent in the next five years. He reckons PT will open between 100 and 150 new service stations and boost the household LPG gas business by 40 to 50 per cent over five years.

The household LPG gas business is expected to grow more than 100 per cent in 2021, though LPG for vehicles should rise by 15 to 20 per cent.

Furthermore, Pitak said that his company has allowed employees to design non-oil business, such as a cannabis noodle brand. Also, there was an innovation team to design services for serving Max World members in the future.

Apart from the aforementioned business, PTG has invested in oleochemistry business, under “Palm Complex” project. Pitak explained that products from this project are made from palm, and two new products will be released within the next two months. 

PTG targeted the earnings before interest, taxes, depreciation, and amortization to grow by 10 per cent from last year, which oil business had grown by 5.9 per cent from 2019. 

According to Pitak, PTG oil sales in 2021 will grow between 8-12 per cent, and the company will continue having the second biggest share in the oil market.re in the oil market.

Published : October 16, 2021

BGRIMs VN solar venture financing gets green certification #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/business/40007560


Being awarded the Green Loan Certificate under the Climate Bonds Initiative (CBI) on 1 October 2021 connotes the eco-friendly nature of the 240-megawatt solar energy scheme.

The US$160.5 million financing of B.Grimm Power PCL (BGRIM)’s Dau Tieng solar farm project in Vietnam has been certified as a “green” borrowing by an independent international environmental agency.

Being awarded the Green Loan Certificate under the Climate Bonds Initiative (CBI) on 1 October 2021 connotes the eco-friendly nature of the 240-megawatt solar energy scheme.

The certificate was given to Dau Tieng Tay Ninh Energy Joint Stock Company, a BGRIM subsidiary, after a syndicated loan for the amount was finalised on 31 August 2021.

The financing comprises a $32.5 million loan directly funded by ADB and the Leading Asia’s Private Infrastructure Fund (LEAP), a $128 million syndicated loan (B loan) funded by commercial banks, including Bangkok Bank, Kasikorn Bank, Kiatnakin Phatra Bank, ICBC (Thai) and Standard Chartered Bank (Thai).

Dau Tieng is BGRIM’s second green loan of large-scale solar farm in Vietnam, after the 257-MW Phu Yen TTP facility in Phu Yen province, that gained the green loan recognition.

The Phu Yen TTP solar farm, which is operated by Phu Yen TTP Joint Stock Company that is owned 80% by BGRIM, is funded by a $183 million loan that received the CBI credential at the end of 2020, becoming the first green lending extended to Vietnam.

BGRIMs VN solar venture financing gets green certificationBGRIMs VN solar venture financing gets green certification

These certificates underpin BGRIM’s potential in developing projects that contribute to environmental and climate protection, said Dr Harald Link, Chairman and President of BGRIM.

“BGRIM is committed to expanding its business with sustainability under the principles of good governance and responsible value chain management. We pursue our business by taking into account the impacts in various dimensions including economy, society and environment through the clean energy development,” said Dr. Link.

“BGRIM’s investment in renewable energy ventures in Thailand, Vietnam, Cambodia, Lao PDR and many other countries are testimonial to its contribution in reducing global warming and taking care of the environment in a sustainable way according to the company’s long-standing philosophy of ‘Doing business with compassion for the development of civilization in harmony with Nature” that spans over 143 years in B.Grimm’s history,” Dr Link concluded.

Published : October 15, 2021

Department of Medical Services gives Appreciation Plaque to CP Foods and the Charoen Pokphand Foundation #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/business/40007559


Department of Medical Services gives Appreciation Plaque to CP Foods and the Charoen Pokphand Foundation

Somsak Akksilp, 2nd from right, director-general of the Department of Medical Services (DMS), presented CP Foods and the Charoen Pokphand Foundation with Appreciation Plaque for supporting the work of COVID-19 pre-admission centre at Nimibutr Sport Building. Voravit Janthanakul, Center, Executive Vice President for corporate administrative and the foundation’s secretary, was the company’s representative. Deputy director-generals of DMS, Pairoj Surattanawanich, Left , Weerawut Imsamran, 2nd from left) and Nutthapong Wongwiwat, right, also participated in the recognition ceremony at the Department of Medical Services, Ministry of Public Health.

Published : October 15, 2021

Statement from Zuellig Pharma: Updates on COVID-19 Vaccine Moderna Delivery #SootinClaimon.Com

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https://www.nationthailand.com/business/40007502


ZP Therapeutics deeply understands the public’s desire for clarity around delivery dates. We reiterate that we are doing all we can to accelerate delivery of COVID-19 Vaccine Moderna to Thailand.

We expect 1.9 million doses of COVID-19 Vaccine Moderna to arrive in Thailand within the fourth quarter of 2021. Based on the latest schedule provided by Moderna, delivery is anticipated to begin in November. The remaining 6.8 million doses are expected to be delivered in the first quarter of 2022.

Given the unprecedented global demand for COVID-19 vaccines, ZP Therapeutics, with Moderna, is exploring all possible avenues to secure the earliest delivery of the COVID-19 Vaccine Moderna to Thailand. We have been working closely with the government to open alternative sources of supply from the US, including working with Thai FDA to add Moderna’s US manufacturing site to the Thai FDA’s list of approved sourcing site on top of currently approved manufacturing site from EU.

ZP Therapeutics has been supporting the government of Thailand, the Government Pharmaceutical Organization (GPO), and the Private Hospital Association (PHA) in achieving their mass COVID-19 vaccination goals by providing an COVID-19 Vaccine Moderna to the people of Thailand. We put utmost importance in ensuring that the vaccines that will be delivered to the Thai people meet the required safety and manufacturing standards expected under the supply agreement and Thai regulations. We remain fully committed to working with these partners to ensure that we bring adequate supply of vaccines to the people of Thailand as soon as possible.

Published : October 14, 2021

By : THE NATION

THAI Announces its Winter Flight Schedule 2021- 2022 #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/business/40007505


hai Airways International Public Company Limited (THAI), recently said that in support of the Governments policy to welcome international visitors to Thailand as of 1st November and in response to increasing demands for air travel on international routes

Mr. Nond Kalinta, Chief Commercial Officer, Thai Airways International Public Company Limited (THAI), recently said that in support of the Government’s policy to welcome international visitors to Thailand as of 1st November and in response to increasing demands for air travel on international routes, THAI, as a national flag carrier aiming at reviving the country’s economy and travel and tourism industry, has arranged and adjusted its flight schedules and offered full inflight services as per the latest COVID-19 control measures for its Winter Flight Programme during 31 October 2021 – 26 March 2022 with details as follows:

Flight operations in support of the Phuket Sandbox campaign:

1. Bangkok – Phuket – London (v.v.): three flights per week every Wednesday, Friday and Sunday.

2. Bangkok – Phuket – Frankfurt (v.v.): three flights per week every Tuesday, Thursday and Saturday.

3. Bangkok – Munich – Phuket – Bangkok: one flight per week every Friday, starting 1 January 2022.

4. Bangkok – Phuket – Paris (v.v.): twice weekly flights every Tuesday and Thursday.

5. Bangkok – Phuket – Copenhagen (v.v.): one flight per week every Thursday.

6. Bangkok – Phuket – Stockholm (v.v.): one flight per week every Friday.

7. Bangkok – Zurich – Phuket – Bangkok: one flight per week every Friday.

Intercontinental (return flights):

1. Bangkok – London: four flights per week every Tuesday, Wednesday, Friday and Sunday.

2. Bangkok – Frankfurt: four flights per week every Monday, Wednesday, Friday and Sunday.

3. Bangkok – Munich: one flight per week every Sunday, starting 1 January 2022.

4. Bangkok – Paris: one flight per week every Sunday.

5. Bangkok – Brussels: twice weekly flights every Wednesday and Friday.

6. Bangkok – Milan: twice weekly flights every Thursday and Saturday, starting 1 January 2022.

7. Bangkok – Copenhagen: twice weekly flights every Wednesday and Sunday.

8. Bangkok – Stockholm: twice weekly flights every Tuesday and Thursday.

9. Bangkok – Zurich: twice weekly flights every Monday and Wednesday (operating one flight per week during 31 October – 31 December 2021).

10. Bangkok – Sydney: twice weekly flights every Wednesday and Sunday.

Regional (return flights):

1. Bangkok – Manila: five flights per week every Monday, Tuesday, Thursday, Friday and Saturday.

2. Bangkok – Osaka: four flights per week every Thursday, Friday, Saturday and Sunday.

3. Bangkok – Tokyo (Narita): four flights per week every Monday, Tuesday, Thursday and Saturday.

4. Bangkok – Tokyo (Haneda): three flights per week every Tuesday, Thursday and Saturday, starting 1 January 2022.

5. Bangkok – Nagoya: four flights per week every Wednesday, Thursday, Friday and Sunday.

6. Bangkok – Taipei: four flights per week every Tuesday, Wednesday, Friday and Saturday.

7. Bangkok – Hong Kong: three flights per week every Wednesday, Friday and Sunday.

8. Bangkok – Seoul: daily flight.

9. Bangkok – Singapore: four flights per week every Wednesday, Thursday, Friday and Saturday.

10. Bangkok – Jakarta: one flight per week every Wednesday.

11. Bangkok – Delhi: daily flight, starting 1 January 2022.

12. Bangkok – Mumbai: five flights per week every Monday, Tuesday, Thursday, Saturday and Sunday, starting 1 January 2022.

13. Bangkok – Bengaluru: three flights per week every Monday, Friday and Sunday, starting 1 January 2022.

14. Bangkok – Hyderabad: three flights per week every Monday, Friday and Sunday, starting 1 January 2022.

15. Bangkok – Chennai: four flights per week every Monday, Tuesday, Thursday and Saturday, starting 1 January 2022.

16. Bangkok – Dhaka: three flights per week every Tuesday, Thursday and Saturday, starting 1 January 2022.

17. Bangkok – Karachi: four flights per week every Monday, Wednesday, Friday and Saturday, starting 1 January 2022.

18. Bangkok – Lahore: three flights per week every Tuesday, Thursday and Saturday, starting 1 January 2022.

19. Bangkok – Islamabad: four flights per week every Monday, Wednesday, Friday and Saturday, starting 1 January 2022.

THAI strictly complies with the COVID-19 preventive measures of the Centre for COVID-19 Situation Administration (CCSA) and the Civil Aviation Authority of Thailand (CAAT) for flight operations. All THAI flights are also operated in accordance with the COVID-19 control measures regulated by each destination country. For more information about flight schedules, reservations and ticketing services, please visit our website at www.thaiairways.com, call THAI Contact Center at (+66) 2-3561111, 24 hours a day, send email to contact@service.thaiairways.com, or contact THAI local ticketing offices.

Published : October 14, 2021

AstraZeneca’s COVID-19 vaccine manufactured in Thailand authorised for World Health Organization Emergency Use #SootinClaimon.Com

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https://www.nationthailand.com/business/40007499


AstraZeneca’s COVID-19 vaccine manufactured in Thailand has been authorised under the World Health Organization (WHO) Emergency Use Listing (EUL) procedure, with immediate effect.

In February 2021, the WHO granted EUL to AstraZeneca’s COVID-19 vaccine, enabling global access during the pandemic. This EUL authorisation has been extended to now include doses manufactured by Siam Bioscience, AstraZeneca’s production partner in Thailand, and recognises that COVID-19 Vaccine AstraZeneca or Vaxzevria is the same product wherever it is made.

James Teague, Country President, AstraZeneca (Thailand) Ltd., said: “We welcome the World Health Organization’s emergency listing because, even though many governments already consider people given our Thailand-made doses to be fully vaccinated and eligible for international travel, it will make it easier for more governments to recognise the vaccine and allow people to travel again.”

Nualphan Lamsam, Honorary Director of Corporate Communications, Siam Bioscience Co., Ltd., said: “Siam Bioscience is proud to have been selected by AstraZeneca as its local manufacturing partner. We take great pride in producing high-quality COVID-19 vaccine, now recognised by the World Health Organization. All batches of AstraZeneca’s COVID-19 vaccine produced at Siam Bioscience, undergo stringent quality testing and are also authorised by regulators and international laboratories in Europe and the U.S. Siam Bioscience and AstraZeneca continue to work closely and produce vaccine doses for the wellbeing of the Thai people and region, to help a quick return to normalcy.”

All manufacturing of COVID-19 Vaccine AstraZeneca around the world is conducted using the same stringent manufacturing process and each batch passes over 60 quality tests as part of a robust global quality assurance process.

From the 585 million individuals who had received at least one dose of COVID-19 Vaccine AstraZeneca as of September 2021, COVID-19 Vaccine AstraZeneca prevented over 105,000 deaths and over 620,000 hospitalisations worldwide.

In clinical trials, COVID-19 Vaccine AstraZeneca demonstrated 100% efficacy against severe disease and hospitalisation after two doses, and real-world evidence shows the vaccine is around 80 – 90% effective against severe disease due to WHO-identified variants of concern.

To date, more than 1.5 billion doses of AstraZeneca’s vaccine have been released for supply to more than 170 countries globally, and approximately two-thirds of these doses have been delivered to low- and lower-middle income countries.

Published : October 14, 2021

By : THE NATION

B.Grimm Power’s Cambodia solar farm project wins “International Finance Award– IFM Award 2021: Best New Solar PV Project” #SootinClaimon.Com

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https://www.nationthailand.com/pr-news/business/40007498


The IFM Award 2021 is another back-to-back win for BGRIM’s solar power development abroad. The company’s 257-MW Phu Yen TTP solar power project in Vietnam was also honoured the Best Power Plant Project Developer in Solar Energy category in 2019 by the IFM.

B.Grimm Power PCL (BGRIM)’s solar farm in Cambodia is named the best new utility of its kind by the UK-based International Finance Magazine (IFM) this year.

The prestigious IFM 2021 Award bestowed to the company’s 39-megawatt solar photovoltaic facility in Banteay Meanchey Province recognises its cutting-edge technology and an important role it plays in economic and social development.

“The award underscores BGRIM’s commitment in developing clean energy as part of its mission to deal with the global warming,” said Dr Harald Link, Chairman and President of BGRIM.

The Cambodian solar farm is operated by Ray Power Supply Co Ltd, a wholly-owned subsidiary of B.Grimm Solar Power 1 Co. Ray Power is the only recipient of the IFM Award in the New Solar Energy Project category in 2021.

B.Grimm Power’s Cambodia solar farm project wins  “International Finance Award-- IFM Award 2021: Best New Solar PV Project”B.Grimm Power’s Cambodia solar farm project wins “International Finance Award– IFM Award 2021: Best New Solar PV Project”

The IFM Award 2021 is another back-to-back win for BGRIM’s solar power development abroad. The company’s 257-MW Phu Yen TTP solar power project in Vietnam was also honoured the Best Power Plant Project Developer in Solar Energy category in 2019 by the IFM.

Dr Link hailed the ground-mounted solar power facility in Cambodia as a success for it being completed on schedule amidst many restrictions, including the Covid-19 pandemic effects and severe floods in the construction area throughout 2020.

“This award reinforces BGRIM’s expertise in the solar power business that the company is prepared to expand to cover government and private sectors both at home and abroad,” Dr Link addressed.

BGRIM’s expanding solar power business is a concrete response to the adaptation of energy demand platforms as more and more organisations, especially international ones, are turning to renewable energy as a way to reduce carbon dioxide emissions.

This scheme also meets BGRIM’s goal to rapidly enhance the clean energy in its generation portfolio as well as fulfilling its mission of “Empowering the World Compassionately.”

The Cambodian solar farm’s output has begun to supply to the Electricite Du Cambodge (EDC)’s grid on 15 December 2020 under a 20-year agreement. It is the first solar energy project in Cambodia which has secured firm power supply guarantee from the Cambodian government.

Currently, B.Grimm Power has a total of 50 power plants in commercial operation. The company aims to ramp up its total installed capacity from 3,058 MW at the end of 2020 to at least 7,200 MW of secured PPA by 2025 and further to 10,000 MW by 2030 with an annual revenue of more than 100 billion baht being targeted. More importantly, B.Grimm Power is moving strenuously towards realising net-zero carbon emissions by 2050.

Published : October 14, 2021

Achieving just transition to net-zero economy key to building climate-resilience in Thailand #SootinClaimon.Com

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40007424


According to the Prime Minister of Thailand, General Prayuth Chan-o-cha, today’s commitment underscores the fact that climate action could not be more urgent, and leadership by the private sector is crucial to Thailand’s efforts in successfully tackling climate change.

Business leaders representing Thailand’s major industries today joined the Global Compact Network Thailand (GCNT) Forum 2021 and United Nations in issuing a strong call to action by the private sector community on climate sustainability ahead of the United Nations Climate Change Conference COP26 in November in Glasgow. They committed to transition to more sustainable business models at the annual GCNT Forum, including net zero emissions by 2050 at the earliest.

According to the Prime Minister of Thailand, General Prayuth Chan-o-cha, today’s commitment underscores the fact that climate action could not be more urgent, and leadership by the private sector is crucial to Thailand’s efforts in successfully tackling climate change. The country must swiftly enhance its knowledge and capacity to create new innovations and technologies to tackle climate change and other environmental concerns and, at the same time, adapt and transition to a low-carbon economy and build resilience. In order to do so, it is necessary to leverage available international funds and mechanisms such as the bilateral exchanges of knowledge and technology and the joint credit mechanism (JCM).

Achieving just transition to net-zero economy key to building climate-resilience in ThailandAchieving just transition to net-zero economy key to building climate-resilience in Thailand

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At the same time, the Government has integrated climate change into national policies under the thirteenth National Economic and Social Development Plan (NESDP), i.e. the tenth milestone – Development of a Circular Economy and Low-Carbon Society, and the eleventh milestone – Reduction of Risks from Natural Disaster and Climate Change. Accordingly, the Government is currently drafting the Climate Change Act, which will ensure comprehensive coverage of all climate-change related issues. In addition, in November this year, Thailand will join the COP 26 Conference in Glasgow, which he hoped will reach conclusions to address the climate crisis and operationalize the Paris Agreement.

“Thailand places importance on a balanced and environmentally-friendly economic growth based on the Bio-Circular-Green Economic Model (BCG), and has to likewise intensify its efforts in addressing climate change. This is an opportunity for Thailand to transform towards a value-added economy that will lead to a more balanced, sustainable and environmentally friendly growth. Most importantly, it is an opportunity to create new dynamism in our economy, which will benefit all businesses,” Prime Minister General Prayuth Chan-o-cha explained.

Achieving just transition to net-zero economy key to building climate-resilience in ThailandAchieving just transition to net-zero economy key to building climate-resilience in Thailand

According to Mr. Suphachai Chearavanont, Chairperson of GCNT and Group Chief Executive Officer of Charoen Pokphand Group, said one-third of the network’s members have delivered on their commitment to integrating the 17 Sustainable Development Goals (SDGs) into business strategies through 510 projects in the pipeline, which partially amounts to 420 billion baht. These actions mobilize sustainability within the Thai context, and likewise, today’s commitment to prevent and mitigate climate change will support government efforts in line with the Bio-Circular-Green Economic Model (BCG) that is low-carbon economy, while prioritizing clean energy and high-value bio-based or “S-curve” industries. At the same time, this requires investing in new technologies and innovations with a focus on efficiency, design-thinking and building a new generation of sustainability leaders. Saving the environment starts with us and it is through transparency in corporate reporting that we can build greater awareness and resiliency to climate change.

“We must act swiftly and accelerate the Thai economy’s transformation for the net zero era, to truly embrace the ‘Race To Zero’ with the focus on a clean energy-driven economy and society. Achieving a just transition to a green economy that is fair, leaves no one behind and reduces all dimensions of inequality especially gaps in gender parity and economic and educational opportunities,” he said.

United Nations Resident Coordinator in Thailand, Ms. Gita Sabharwal pointed out that “the shift away from fossil fuel dependency and reducing carbon emissions are among the most pressing priorities, for which we have a finite window of opportunity to act.” She stressed the urgent necessity to expand carbon markets, increase innovation and investments in sustainable technologies, and provide more support for small and medium-sized enterprises in the transition to net-zero. “GCNT recognizes that while sustainability goals are universal, companies have to go at their own pace, to learn and unlearn, in a challenging environment. This period of creative disruption is the key commercial opportunity of our time,” she added. “The economy needs to move in unison, which makes platforms such as the GCNT all the more important.”

In her video message to the GCNT Forum, Ms. Sanda Ojiambo, Chief Executive Officer of the United Nations Global Compact, congratulated the GCNT members on advancing both the 2030 Agenda and the Paris Agreement. However, she also urged all participants to reduce their corporate carbon footprint and shift to renewable energy as well as a more circular economy of reuse and recycling. “These are challenging goals, but they are also opportunities for transformative change,” she said, in encouraging companies to join the United Nations Global Compact and become part of that change.

Achieving just transition to net-zero economy key to building climate-resilience in ThailandAchieving just transition to net-zero economy key to building climate-resilience in Thailand

The Minister of Natural Resources and Environment of Thailand, Mr. Varawut Silpa-archa emphasized the need for collective action on the converging global crises of climate change and the COVID-19 pandemic, saying this was a roadmap for sustainable recovery. “It is not the responsibility of any one individual, not the sole responsibility of the Government or the opposition or the private sector. It is a mutual obligation that requires collaboration because climate and environmental degradation will affect us all,” he said. “We must focus on greenhouse gas reductions and integrate environmental and green measures into all industrial operations and business sectors, to achieve a low-carbon society.”

Five high-level panel discussions were held during the Forum, during which the participants discussed responsible business practices, with the focus on pressing issues such as the state of sustainability, credible climate actions via sustainable finance, the role of innovation and technology in addressing climate impacts, and business leadership and investment in carbon markets.

Speaking on the role of market regulators in climate sustainability, the Secretary-General of the Thailand Securities and Exchange Commission (SEC), Ms. Ruenvadee Suwanmongkol, said her organization was determined to develop enabling ecosystems for Thailand’s sustainable capital market. This has already led to the introduction of the mandatory “56-1 One Report” annual reporting criteria, in which listed companies and all future IPO filing forms submitted to the SEC must disclose updated information on greenhouse gas emissions. “It is critical that the voices of all sectors are heard, and sustainability markets are supported. The SEC supports the issuance of investment products to promote that ambition,” she explained.

Against this backdrop, the Stock Exchange of Thailand (SET) has been working closely with the Thailand Greenhouse Gas Management Organization and the Federation of Thai Industries “to establish a carbon credit market as a fundamental infrastructure for efficient energy consumption,” according to the SET President, Dr. Pakorn Peetathawatchai. This follows the introduction of similar measures to enable innovation and development of environmentally-friendly businesses in Thailand.

Normally held in Bangkok, the Forum this year was virtual, organized by GCNT in partnership with the United Nations in Thailand. More than 800 participants attended the event, including members of the Thai private, public and social sectors as well as representatives from the United Nations Industrial Development Organization, United Nations Environment Programme and United Nations Development Programme. Business members of GCNT participating in the forum included Charoen Pokphand Group, Thai Bev, CP All, Charoen Pokphand Foods, HSBC, Huawei Technologies (Thailand), NR Instant Produce, True Corporation, Bangchak Corporation, BCPG, CP Intertrade, Charoen Pokphand Produce, IRPC, Ek-chai Distribution, Siam Makro, Oklin Thailand, Pranda Jewelry, PTTEP, PTT Global Chemical, PTT Group, Thai Oil, and Krung Thai Bank.

Published : October 12, 2021

Thailands Recovery to Gain Traction in 2022; Banks, Retail and Hospitality Still Challenged #SootinClaimon.Com

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40007420


Fitch Ratings-Bangkok-12 October 2021: Fitch Ratings expects Thailands economic recovery to gain traction in 2022, supported by a significant improvement in Covid-19 vaccination rates, business reopening and a still-supportive global growth environment.

The return of tourism is likely to be gradual, and Fitch expects GDP to recover to pre-pandemic levels by early 2023. The ratings of most large Thai corporates have stabilised, although some sectors, such as banks, retail and hospitality, remain under earnings pressure due to the pandemic, according to the Fitch analysts that spoke at the annual conference on Thailand held via webinar today.

Mr Stephen Schwartz, Senior Director and Head of Asia-Pacific Sovereigns at Fitch, commented on the global economy, noting that strong external demand should continue to support Thailand’s exports. However, he noted that supply constraints are limiting the pace of global recovery and contributing to price rises in the US. Fitch expects the US Federal Reserve to begin tapering next month, but for interest rate increases to begin only in 2023.

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The regional outlook has been set back by a slowdown in China and the recent surge in the Delta Covid-19 variant. However, a significant improvement in vaccination rates for most Asian sovereigns over 2H21 should put their recovery from the pandemic shock on a firmer footing. We expect the region to average growth of 6.3% in 2021 and 5.3% in 2022 as pandemic-related restrictions are gradually lifted. This compares with our forecast growth in Thailand of just 0.8% and 4.8%, respectively, where vaccination rates are picking up after a slow start. Slower growth in China, together with US Federal Reserve tapering, could be negative for Asia’s emerging and frontier markets.

Mr Parson Singha, Senior Director of Financial Institutions at Fitch Ratings Thailand, highlighted that Thai banks’ asset quality remains obscured by ongoing regulatory measures; around 14% of commercial bank loans are under regulatory relief, and there is also forbearance on loan classifications. Fitch expects the SME segment, which accounts for around 23% of loans, to remain under particular pressure from weak business and economic activity. Fitch believes non-performing loans will continue to rise and profitability will remain challenged in 2022, but Thai banks have built up reasonable reserves and capital buffers. Credit losses should remain manageable across south-east Asian emerging markets, although loss absorption buffers differ by country.

Mr Obboon Thirachit, Director of Corporate Ratings at Fitch Ratings Thailand, said the recovery in the Thai economy should support continued earnings growth for domestic Fitch-rated corporates in 2022. Most sectors, including oil, gas and petrochemicals – which were hardest hit in 2020 – are now on Stable Outlook, with earnings recovering to pre-pandemic levels. The retail and hospitality sectors, which were heavily affected by the resurgence of Covid-19 cases and travel restrictions in 2021, should see a gradual improvement in 2022, although a recovery to pre-pandemic levels could take another two years.

Thai corporates are stepping up their investment and M&A to support medium-term growth, digitalisation and low-carbon business transformation. This will keep financial leverage elevated and constrain rating improvement.

Published : October 12, 2021

By : THE NATION

The 13th Thailand Tourism Awards Ceremony, 2021: Quality assurance of Thai tourism products and services to the world. #SootinClaimon.Com

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40007365


Bangkok, Today (11 October 2021) – Princess Ubol Ratana Rajakanya Sirivadhana Barnavadi, as Honorary President, presided over the 13th Thailand Tourism Awards Ceremony for 2021, and presented the awards to entrepreneurs, local organisations, and communities in the tourism industry.

There was a total of 185 awards. This competition was organised by the Tourism Authority of Thailand (TAT) and accepted entries from March to May 2021. The competition aimed to raise the standards of Thai tourism products and services, as well as to build confidence and create a positive impression on tourists in a new form of tourism, which is safe from COVID-19. The event took place at the PM Studio, Bangkok and was live online via the Facebook fan pages of Thailand Tourism Awards and Amazing Thailand.

The 13th Thailand Tourism Awards Ceremony, 2021: Quality assurance of Thai tourism products and services to the world.The 13th Thailand Tourism Awards Ceremony, 2021: Quality assurance of Thai tourism products and services to the world.

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H.E. Mr. Phiphat Ratchakitprakarn, Minister of Tourism and Sports, stated that under the COVID-19 pandemic situation, the tourism industry has been severely affected by travel restrictions for both Thai and foreign tourists. This includes travel behavior that takes safety into account. He continued that the Thailand Tourism Awards, therefore, was a mechanism for raising the standard of tourism products and services. This year, the standard for hygiene and safety that meets the criteria of the Amazing Thailand Safety and Health Administration (SHA) had been added. This was to create an image of Thailand’s tourism as “White Tourism” (clean, convenient, safe, fair, and environmentally friendly) and also to build confidence for both Thai and foreign tourists in a new way of tourism. This would lead to the creation of a safe and impressive travel experience, especially participation in social and environmental sustainability.

Miss Thapanee Kiatphaibool, Deputy Governor for Domestic Tourism, Tourism Authority of Thailand stated that TAT organised the Thailand Tourism Awards biannually, and these awards serve as a vital benchmark for guaranteeing the quality of the products and services within the tourism industry, as well as provide assurance that these products and services show sufficient social and environmental responsibility. The awards are also a way of promoting and supporting the development of products and services within the industry, as well as creating a healthy level of competition in order to achieve new levels of efficiency and quality, to ensure the industry conforms with the latest SHA hygiene and safety standards, and to emphasise the quality of Thai tourism on an international level. A team of experts from the industry  analysed and judged the entries and awarded the prizes according to the five project criteria, which were as follows: 1. White Tourism, 2. Compliance with the BCG Model, 3. SHA Hygiene and Safety Standard, 4. Environmental Responsibility, and 5. Voice of the Customer.

There was a grand total of 346 entries in this year’s competition with 185 of those entries completing the criteria and receiving awards. The awards were divided into three categories: 1) Tourist Attraction, a total of 83 prizes, 2) Accommodation, a total of 69 prizes, and 3) Health and Wellness Tourism, a total of 33 prizes, with each category featuring Thailand Tourism Awards (Outstanding), Thailand Tourism Gold Awards (Excellence), and Hall of Fame Awards for entrants who had received three consecutive Thailand Tourism Gold Awards. 

  The 13th Thailand Tourism Awards Ceremony, 2021: Quality assurance of Thai tourism products and services to the world.The 13th Thailand Tourism Awards Ceremony, 2021: Quality assurance of Thai tourism products and services to the world.

In this year’s competition, a total of 10 Hall of Fame awards were presented. Three awards were in the attractions category: Chiang Mai Night Safari (Chiang Mai), Tiffany Show Pattaya (Chon Buri), and Flying Hanuman (Phuket), one award in the accommodation category: Siam Bayshore Resort Pattaya (Chon Buri), and finally six awards in the Health and Wellness Tourism category: Banyan Tree Spa (Phuket), Banyan Tree Spa Samui (Surat Thani), Fah Lanna Spa (Chiang Mai), RarinJinda Wellness Spa Resort (Chiang Mai), Oasis Turquoise Cove Spa (Phuket), and Oasis Spa Pattaya (Chon Buri). 

TAT hopes that the Thailand Tourism Awards project could achieve its purpose of acting as a tool, which would create and stimulate sustainable ethical interaction between the public and private sectors and local communities, as well as encourage the development of attractions within the tourism industry, thus creating a wider market for the products and services offered by the Thai tourism industry. It is also hoped that the awards would create opportunities for employment and income across the entire economy and help to maintain sustainable tourism in Thailand. 

To check the list of award-winning entrants in the 13th Thailand Tourism Awards, 2021 please click  www.tourismthailand.org/tourismawards or www.facebook.com/thailandtourismawards

Published : October 11, 2021

By : THE NATION