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https://www.nationthailand.com/business/corporate/40022002

SATURDAY, NOVEMBER 12, 2022

Opal Varunsuda

In the 21 th episode of Business Story, Pongwud Praipaisankij, CEO-Multiverse Expert,Group CEO -MiGroup discusses the direction of Multiverse Expert as the forth unicorn of Thailand.

Pongwud Praipaisankij, CEO of Multiverse Expert and Group CEO for MiGroupMultiverse Expert Co Ltd, a subsidiary of MiGroup, is another Thai digital start-up to successfully rise to the unicorn level and Thailand’s first unicorn in the metaverse.

This jump was made possible by a US$120 million investment from the Foxconn subsidiary, Power-all Networks, which pushed the start-up’s value to $1.2 billion.

This is the fourth unicorn in Thailand.Multiverse Expert, which specialises in information technology infrastructure development, will work with Foxconn to forge new paths into the Chinese and global Metaverse markets.

Pongwud Praipaisankij, CEO of Multiverse Expert and Group CEO for MiGroup, said Thailand is becoming very competitive in the digital industry and will draw investment along with skilled workers to help usher in the Web3 era.

“No one can precisely define what the metaverse is. Place is the most prevalent topic of metaverse discussion. People connect, travel, and experience together in one or more locations without regard to boundaries.This is a typical occurrence; we can characterize it immediately.” Pongwud said.

 “For the developing portion, such as me, the builder who thinks differently, because there are no boundaries in the Metaverse reality, we can program anything. However, in terms of business, you should consider Metaverse to be a marketing tool. This tool can assist the brand in rethinking the client journey.”He added.

Follow Full interview in the Business Story  in Episode : Multiverse Expert

Opal Varunsuda

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https://www.nationthailand.com/business/corporate/40021985

Amazon Global Selling offers Thai SMEs new expansion opportunities

FRIDAY, NOVEMBER 11, 2022

Nongluck Ajanapanya

With the pandemic changing consumer behaviour and expanding the e-commerce industry, Amazon Global Selling has created new tools and resources to help Thai businesses cross borders.

The aim is to help Thai companies, especially small and medium-sized enterprises, to establish a foothold in foreign markets.

Anand Palit, Southeast Asia head of Amazon Global Selling, said the opportunity to “capture a piece of the international e-commerce pie is ripe” and Thai businesses should seize it now.

“There are enormous opportunities internationally, and Amazon provides the tools and services that can help Thai businesses lay the groundwork to accelerate their brand sales to the rest of the world,” Palit said.

He added that many Thailand-made products like health items, wooden toys, jewellery and clothes are already very popular in the US and Europe.

Hence, he said, Thai businesses must overcome their fear and take action to expand internationally.

“Our strategy to help Thai businesses succeed is to introduce tools, resources and ramp up support to power independent entrepreneurs to dream big and make Amazon the best place to grow their brands,” Palit added.

He stated that Amazon was working on deepening collaborations across sectors to foster even greater success for Thai businesses.

For instance, he said, to help new businesses get started, Amazon is offering incentives worth up to US$50,000, including Fulfilment by Amazon and advertising credits.

(from left) Jamie Brennan and Anand Palit

Jamie Brennan, chief of Amazon Global Selling Thailand, said the platform is committed to offering innovative ideas to sellers with a focus on creating growth and new opportunities.

“We have collaborated closely with government agencies to jointly enhance the transformation through cross-border e-commerce, and we will continue to do so in 2023,” she said.

Amazon showcases 22 stores, ships products to more than 200 countries and has over 400 fulfilment centres worldwide. 

It also has more than 28,000 people on hand to help out, not to mention the Amazon Seller University which educates sellers in the early stages.

In Thailand, Palit said, the Amazon Global Selling team has come up with dedicated support options in Thai. He added that the team is working on helping more Thai businesses enter the global market and scale up their operations.

Amazon has created the Global Selling unit to help businesses to launch globally from anywhere in the world and reach more than 100 million potential buyers worldwide.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40021984

Banpu revenue soars 106% in first 3 quarters

FRIDAY, NOVEMBER 11, 2022

Nongluck Ajanapanya

SET-listed energy giant Banpu on Friday announced total sales revenue of US$2.397 billion for the first three quarters of this year, a 106% rise on the same period last year.

Banpu CEO Somruedee Chaimongkol said some of the increase could be attributed to rising energy consumption. The company also saw returns from renewable and clean energy investments like solar and wind farms.

Somruedee said Banpu’s NEXT strategy for green energy expansion will focus on five elements: solar roof, battery, energy management solution, electric vehicles, and energy trading.

Banpu operates three core businesses – energy resources, energy generation and energy technology – in 10 countries: Thailand, Indonesia, China, Australia, Laos, Mongolia, Singapore, Japan, the United States and Vietnam.

Somruedee Chaimongkol also unveiled Banpu’s “Love Song from Clean Energy” campaign on Friday. The face of the campaign – aimed at promoting clean energy among the new generation – is Thai-Belgian pop singer Violette “V” Wautier.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40021983

APEC CEO Summit carves new path for future business travel

FRIDAY, NOVEMBER 11, 2022

Sanan Angubolkul is no stranger to business travel, especially in his role as chair of the Thai Chamber of Commerce (TCC) and host of the upcoming Apec CEO Summit.

This high-level business gathering will be held in conjunction with the approaching Asia-Pacific Economic Cooperation (Apec) Summit.

“This is the first time in three years that this event is being hosted face-to-face. Apec 2022 is a great opportunity for the business sector and Thai people,” he said. “Thailand will not have a chance to host an event like this for another 20 years.”

Apec is a regional economic forum with 21 member economies established in 1989 to promote economic integration in a non-legally binding, friendly manner.

Next week, landing on Thai soil will be leaders not just from the 21 Apec economies, but also from Saudi Arabia, France and China.

Since diplomatic ties have been rekindled with Saudi Arabia, Thailand has welcomed more than 800 business travellers.

With Apec member economies accounting for more than 60% of the global GDP, the summit is attracting many key business leaders from different countries.

To accommodate them, the Thai business sector has teamed up to form the Apec Business Advisory Council (Abac).

This entity comprises TCC, the Federation of Thai Industries, and the Thai Bankers’ Association.

Sanan said the Thai private sector is playing a key role in supporting the Apec 2022 theme of “Open. Connect. Balance”.

“The subjects of trade, investment and doing business across borders will be discussed closely and everybody hopes all obstacles will be unlocked,” he said.

The meeting is also expected to help Thailand’s small and medium-sized enterprises (SMEs) learn from their Apec counterparts, so they can gain confidence and potential.

To help tap opportunities for Thailand’s SMEs, Abac has come up with five key issues to bring to the attention of world leaders, namely regional economic integration; digital infrastructure; sustainable practices of micro-entrepreneurs, small and medium-sized enterprises; sustainability; and finance and economics.

“Thailand is strong in the agricultural sector, especially when it comes to food security. This is a factor that we need to highlight and explain to western countries. We want to show them that Thailand is ready for the future,” Sanan said.

He also pointed out that as the host of Apec 2022, Thailand will earn invaluable experience that will have a greater impact in the long run.

“Each country’s leader will come with their own media representative and businesspeople. These people in turn will bring their families and friends to visit Thailand,” Sanan said.

“Though the meeting will only last for two days, many business leaders have arrived several days ahead.”

This, he said, was not surprising because Thailand is known globally for its hospitality and ability to cater to all kinds of visitors.

“I believe anybody coming to Thailand, falls in love with it,” he said.

To support businesspeople arriving in Thailand for Apec 2022, TCC and its business alliances have also selected young entrepreneurs to offer them a helping hand.

This will also give young businesspeople a global perspective and experience in working with executives from other nations, much like the “Young President Organisation” that was held several years ago, he said.

“Business travellers need things to be easy and services that go ‘beyond expectation’. I’ve travelled a lot and if I land at 1am, I don’t want to bother my driver. I would rather have a special service that is ready and waiting for use,” he said.

Business travellers also value the option of skipping lengthy immigration queues and going for the “quick lane” when they visit a country.

Sanan Angubolkul, Chairman of the Thai Chamber of Commerce

For Apec 2022, Thailand has set up fast immigration lanes for official attendees. This service is also available for holders of the Apec business card, Sanan said.

He added that getting a VIP business card is always a wise decision, because businesspeople require easy access to excellent services, such as a personal assistant who can meet their needs.

Introducing the ABTC Privilege Card

The Apec Business Travel Card (ABTC) has been specially created to provide superior privileges to business owners of every level.

The card is operated by World Reward Solutions (WRS Group), a leading provider of services for wealthy and VVIP customer organisations and individuals.

ABTC is already offering special privileges and benefits to Thai businesspeople.

What’s on offer

The holder of the ABTC Privilege Card will be eligible for benefits at participating destinations and stores. It cannot be used as a substitute for cash and cannot be used in place of the Apec Business Travel Card (ABTC).

The card will have 1-year validity from the date the application fee has been paid.

The ABTC Privilege Card comes in three categories:

• Apec Prestige Ultimate (Black): This top-level card has an annual membership fee of 60,000 baht

• Apec Prestige Premier (Red): This mid-level costs 20,000 baht per year

• Apec Prestige Explorer (Blue): This first-tier card is free

To enjoy business travel and lifestyle exquisite privileges please apply for ABTC Privilege Card by simply clicking through www.abtc-privilegecard.com or call to 02-113-4838

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https://www.nationthailand.com/business/corporate/40021976

Fall in crude oil price, refining margin erode PTT Group’s Q3 net profit

FRIDAY, NOVEMBER 11, 2022

PTT Group’s third-quarter net profit this year plunged 62.30% year on year to 18.16 billion baht, from 48.18 billion, due to a decline in crude oil price and refining margin.

The group’s net profit during the first nine months from January to September was down 9.33%, at 168.55 billion baht, from 185.89 billion baht in the same period last year.

PTT Group consists of seven companies, namely PTT, PTT Exploration and Production (PTTEP), Thaioil (TOP), PTT Global Chemical (PTTGC), PTT Oil and Retail Business (OR), IRPC and Global Power Synergy (GPSC).

The third-quarter net profit of PTT, TOP, PTTGC, IRPC, OR and GPSC dropped due to a decline in crude oil price and refining margin.

However, PTTEP witnessed a rise in third-quarter net profit of 24.17 billion baht, up 153% year on year. Meanwhile, the net profit in its first nine months was 55.29 billion baht, up 96% year on year.

PTT’s third-quarter net profit was 8.88 billion baht, down 14.76 billion baht, or 62.4%, from 23.65 billion baht last year. Net profit in the first nine months was 73.30 billion baht, down 9.30% from 80.81 billion baht last year.

PTT president and CEO Auttapol Rerkpiboon said the company faced a decline in third-quarter net profit due to loss in derivatives, income tax and foreign exchange.

He said a decline in PTT’s third-quarter net profit accounted for 13% of PTT Group’s third-quarter net profit.

“The group’s third-quarter net profit was affected by a decline in crude oil price amid uncertainty over the global economic recession,” he said.

Related stories:

• Prayut ends conflict between energy minister, PTT board chairman
• PTT unveils wide-ranging EV ecosystem plan to push for low-carbon society
• PTT chairman resigns ‘due to political pressure’