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https://www.nationthailand.com/business/corporate/40022406

One Bangkok announces partnership with Leafy, setting a precedent for luxury residential developments in Thailand

THURSDAY, NOVEMBER 24, 2022

One Bangkok, the largest holistically integrated district in the heart of Bangkok, announced a partnership with Leafy Co., Ltd., to offer high-end built-in furniture from B&B Italia and Boffi as standard interior décor in One Bangkok’s residential development, setting a new standard for luxury residences in Thailand as the first project to do so.

Worawat Srisa-an, Deputy Chief Executive Officer, Frasers Property Holdings (Thailand) Company Limited, a Development Manager of One Bangkok said, “One Bangkok will set new benchmarks in Thailand’s real estate industry by bringing global standards to all aspects of the development. Our commitment to enhancing the quality of life for urbanists and our modern and progressive design principles are at work in both the interior and exterior spaces of the residential’s project.”

By forging a strong partnership with Leafy, the companies are able to offer the combined benefits of a prestigious residential address with built-in furniture by Italian design leaders B&B Italia and Boffi, setting the bar for the level of refinement prospective clients can expect from One Bangkok.

“Our partnership with Leafy is founded on shared values of quality and excellence. Our goal was to find a partner who was ready to work hand-in-hand with our design team to bring an unrivalled living experience to One Bangkok,” he said.

” The singular identity of B&B Italia and Boffi, the highest quality luxury furniture brands guaranteed by international design awards and superlative heritage, is alive in all residences through iconic and timeless pieces of design furniture, all marked by their philosophy: comfort and versatility combined with technological innovation. At the same time, their shared vision of sustainability and environmental responsibility aligns perfectly with One Bangkok’s values.” added Worawat.

Mr. Yupatat Yipintsoi, Managing Director of Leafy Co., Ltd., said, “Choosing the right partner to bring this first-in-Thailand concept to life was very important to us. One Bangkok shares our vision for environmental sustainability and excellence in design and quality. As for B&B Italia and Boffi, their technological innovations in production led them to become certified furniture for projects seeking LEED and WELL certification. With One Bangkok offering a level of quality as standard, we are making a statement in Thailand’s real estate market – a true game-changer when it comes to luxury living.”

“B&B Italia and Boffi are renowned for their continued development and research on the inclusion of sustainable design principles in their production processes to minimise environmental impact. Boffi has obtained ISO 14001 certification, a benchmark for environmental management systems. Meanwhile, B&B Italia is committed to developing products characterised by superior recyclability and disassembly properties. 

One Bangkok is the only project in Thailand where the standard interior design includes built-in furniture from the retail collections. The significance of the retail collection is that it allows residents to shop for fitting and styling their furniture without completely discarding the structure in the future. This offers unparalleled flexibility for prospective clients and demonstrates One Bangkok’s deep understanding of modern luxury living,” added Yupatat.

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https://www.nationthailand.com/business/corporate/40022403

SCB Julius Baer welcomes executives from Julius Baer Group and Siam Commercial Bank, reaffirming ambition to expand Thailand wealth management business

THURSDAY, NOVEMBER 24, 2022

SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer), a joint venture between Siam Commercial Bank, the first Thai bank, and Julius Baer, a leading global wealth management business from Switzerland, recently opened its doors to senior executives from both Julius Baer Group and Siam Commercial Bank to attend its board meeting and discuss the strategic growth direction of its wealth management business in Thailand. The Company is fully committed to establishing itself as the go-to wealth management business for ultra-high-net-worth individuals (UHNWIs) and high-net-worth individuals (HNWIs) in Thailand.

SCB X PCL Chief Executive Officer Arthid Nanthawithaya in his capacity as Chairman of the Board of SCB-Julius Baer Securities Co., Ltd. said, “The wealth management business in Thailand has been expanding rapidly over the past several years, notably among UHNWIs and HNWIs with assets over 100 million Thai baht. We foresee this growth trend continuing, reflecting the optimistic market outlook for our businesses. Delivering excellent wealth management solutions and services are an integral part of the Company’s plan for long-term success. SCB Julius Baer has our full confidence in their ability to support us in developing and expanding our wealth management operations to meet our objectives.” 

SCB-Julius Baer Securities Co., Ltd. Chief Executive Officer Lalitphat Toranavikrai noted, “Our dedication and commitment to growing our wealth management company in Thailand was demonstrated by the presence of top executives from the Julius Baer Group and Siam Commercial Bank at our latest Board meeting where we discussed strategic growth plans. Our established team of investment planning experts with knowledge, experience, and a deep understanding of high-net-worth customers in Thailand and backed by Julius Baer’s international world-class wealth management standards, enables us to advise key clients in Thailand on how to most effectively achieve their investment goals despite challenging global market conditions. As a result, our AUM continued to grow as a result of both the steady additions of new clientele and the continued contributions from our existing clientele.”

Philipp Rickenbacher, Chief Executive Officer of Julius Baer Group Ltd., remarked, “I am delighted to make my first visit to Thailand since the pandemic to meet with colleagues at SCB Julius Baer as well as re-connect with our key clients here. Julius Baer is fully committed to growing in Asia, our second home market, as well as in Thailand, where the demand for global wealth management expertise continues to grow.”

Jimmy Lee, Member of the Executive Board, Julius Baer Group Ltd. and Head of Asia Pacific, Bank Julius Baer, and Member of the Board of Directors, SCB-Julius Baer Securities Co. Ltd., added, “I am confident there are significant opportunities for us to leverage in the Thai wealth management market as clients seek to diversify their investment portfolios and place increasing importance on wealth planning solutions. This outlook bodes well for the SCB Julius Baer team, and we look forward to continuing our close partnership to access the untapped prospects in this key market.”

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https://www.nationthailand.com/business/corporate/40022400

Bangchak unveils ambitious new strategy as it prepares for sustainable future

THURSDAY, NOVEMBER 24, 2022

Bangchak Group has come up with a corporate strategy to enable its five business groups to achieve 10-fold growth in earnings before income tax, depreciation and amortisation (EBITDA) by 2030.

Chief executive officer and president Chaiwat Kovavisarach revealed that the group had adapted to the Covid-19 crisis with its 3Rs approach:

• Refocus, by accelerating the balance between energy security and the transition to clean energy
• Restructure, by creating new channels to access markets and customers
• Reimagine, by selecting opportunities and investment tools that optimise returns for the company

In the first nine months of 2022, the group recorded EBITDA of 37.773 billion baht, compared to an average of 10 billion baht from 2015 to 2020.

“Today, Bangchak Group is moving towards a critical challenging new era to achieve net zero greenhouse gas [GHG] emissions by 2050, with the first milestone of carbon neutrality by 2030.

“As such, Bangchak has adopted a new vision and mission: ‘Crafting a Sustainable World with Evolving Greenovation’, set growth strategies through to 2030 for the five business groups aligned with the BCP 316 NET plan that will lay the foundation of future sustainable growth targets,” Chaiwat said.

Refinery and oil trading

The company is committed to its niche product refinery capacity such as unconverted oil, and Sustainable Aviation Fuel (SAF) by leveraging growth from new capabilities in addition to refining and process efficiency enhancements, he said.

It aims to increase the EBITDA proportion of non-transportation fuel to more than 60% by 2030.

Marketing business

The company aims to develop consumer-centric services beyond the service station, through the scale-up of non-oil offerings such as food and beverages, and EV chargers, Chaiwat said.

The company also planned to develop partnerships and revenue from the franchise scheme by expanding the service station network to cover 1,900 stations, and 3,000 Inthanin locations by 2030.

Green Power business

The company targets to increase its capacity to 6,800 GWh, mainly from green power business growth from local projects under the new Power Development Plan (PDP 2022 from 2022 – 2037) and development abroad as the world transitions to clean energy, compounded by future peripheral growth such as battery and energy storage, Energy as a Service (EaaS), new forms of energy, and low-carbon businesses.

Bio-based products business

The company targets to increase the proportion of high-value products to more than 70% of EBITDA, to become its core business.

The company plans to emphasise health products development through Synthetic Biology (SynBio) to design and manufacture desired qualities for the global health and beauty segment such as good health and well-being.

Moreover, the company plans to strengthen and expand its biofuel business, especially SAF for the aviation industry.

Natural resources and new business

To address energy security through the expansion of natural resources businesses, with the exploration and growth business, the company targets to produce more than 100,000 boepd (barrels of oil equivalent per day) by 2030 through capability enhancements of OKEA ASA Norwegian oil field holdings, in which Bangchak Group is the principal shareholder.

Moreover, it is exploring growth in other high-potential locations.

Apart from this, the company targets to increase the proportion of new developing businesses to 7 billion baht EBITDA by 2030, such as Winnonie, the battery as a service ecosystem for EV-bikes, liquefied natural gas, and new S-curve businesses.

Chaiwat added the strategy will unlock EBITDA growth up to 10-fold by 2030, while also balancing energy security and environmental sustainability, reiterating the approach to develop sustainable business innovation in harmony with the environment and society.

Meanwhile, the company also revealed its new corporate logo which will be effective from Wednesday.

“From 2015, Bangchak Group, as the leader in energy transition, expanded into new businesses such as green energy business, bio-based products, natural resource, Bangchak Initiative and Innovation Center (BiiC), in addition to its foundational businesses of refining and oil trading, and marketing businesses, and becoming a transnational corporation with operations in more than 10 countries around the world.

“Like a journey into a new era, where more opportunities for growth await, leading to the introduction of the new corporate identity and new corporate logo, symbolising everlasting innovative energy power towards the future,” Chaiwat said. “It reflects the vision of ‘Crafting a Sustainable World with Evolving Greenovation, mission of ‘Committing to accelerate sustainable energy transition while balancing energy security.”

“We are energising lives through greenovative solutions and promoting ESG [environmental, social, governance] for all” and corporate strategy for business growth and expansion of Bangchak Group,” Chaiwat said.

Related stories

• Bangchak continues expanding with more petroleum fields in Norway added to portfolio
• Bangchak gets major earnings boost from Norway venture as fuel prices soar
• Bangchak Group joins national effort towards a low-carbon society with “BCP NET” plan to achieve Net Zero by 2050

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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