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“Buddy Mart”, the community’s favourite store model, raises charm of ownership community relations, Makro’s expertise & partners, uplifts community economy

FRIDAY, OCTOBER 28, 2022

Makro officially unveils “Buddy Mart” community business model overcoming obstacles in attaining investment loans for Shohuay stores; strengthens the original charm; focuses on community needs and preferences for a large selection of well-known brands; catering to customers via Makro’s Big Data and utilizing its 33-year extensive experience and accumulated expertise in handling Shohuay businesses.

Mr. Ekapol Koosuwan, Project Lead – FR Transformation Buddy Mart Business Partner, said, “Buddy Mart is a community business model which has been developed into a successful formula under the concept “ครบ คุ้ม เพื่อนคู่ใจชุมชน” aimed at becoming everyone’s trusted buddy. What is important is to maintain the charm of Shohuay stores by emphasizing original owership and further strengthening relationships within the community. With the technology and Makro’s expertise in utilizing the data base for more than 33 years, Makro can truly understand the customer needs. At this official opening, we have joined hands with an important financial partner – Bangkok Bank – who assists in investments thus making it possible for Buddy Mart’s business partners to acquire up to 100% loans as well as repay by installments during an extended period of 5  years. This helps overcome lack of liquidity challenges and provides eligibility to take out loans to improve the Shohuay stores.

“Makro’s experience of working with more than 500,000 Shohuay, provides Buddy Mart a significant data base, in-depth knowledge and expertise in adjusting products in Shohuay stores to boost sales. Another focus is highlighting the charm of original ownership of Shohuay for example, leveraging on the close relationship with the community to craft a programme to boost sales at the stores on a continuous basis. In other words, the store owner can rely on Buddy Mart to help manage the store. In terms of community relations which is very important in running a Shohuay store, the store owner will be even stronger than before by using the marketing tools provided by us.”

Apart from this, selection of products that are suitable for the community is another important sale boosting factor at Buddy Mart stores.  We found that although popular brand names would normally attract customers to the stores, each store needs to choose products that cater to customers in that particular area and surroundings.  Makro therefore joins hands with well-known brands such as Thai Namthip, Unilever, P&G, Nestle to offer special deals at Buddy Mart stores whereas other business networks focus on selling their house brands only and launching promtoions on a continuous basis.

“Currently, there is tremendous interest in the Buddy Mart business model due to our expertise and impressive track record of over 33 years in the management of retail store. To reduce the cost from over-stocking, Buddy Mart has designed a system where orders can be placed with more frequency, up to 4 deliveries per week. The store owner can also adjust orders to better suit customer demands. 

With Buddy Mart business model and support, store owner can achieve 40% increase in their average sales,” Mr. Ekapol said in conclusion.

Another important strategy by Buddy Mart to draw more traffic to the store is the installation of other various services such as cash machine, automatic coffee machine and automatic washing machine. Future plans include sale of local products in the stores to drive businesses within the community, and strengthen the country’s trade and economy.

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https://www.nationthailand.com/pr-news/more/pr-news/40021485

Chubb announces leadership appointments in Thailand

FRIDAY, OCTOBER 28, 2022

THAILAND, OCTOBER 28, 2022 – Chubb today announced two leadership appointments for its insurance operations in Thailand. The appointments will take effect upon completion of the pending amalgamation of Chubb Samaggi Insurance Public Company Limited and Cigna Insurance Public Company Limited. The combined business will operate under the Chubb Samaggi name.

Khun Nittaya Piriyathamwong, who currently serves as Chairman of Samaggi’s Executive Committee, will remain in this position in the combined business. In this role, she will leverage her deep knowledge and industry experience to provide strategic directions for Chubb Samaggi and oversee the business’ executive committee.  

Andrew Nisbet, currently Country President for Chubb Samaggi, will remain in this role. His responsibilities will include leading the integration of the two businesses while continuing to meet the growth goals of the operations in Thailand. Khun Nittaya and Mr. Nisbet will report to Mr. Edward Ler, Head of Southeast Asia for Chubb.

“Khun Nittaya and Andrew are experienced and talented insurance executives.  I am very excited that we have affirmed their leadership roles at Chubb Samaggi at this important time for the business,” said Mr. Paul McNamee, Regional President for Chubb in Asia Pacific. “I look forward to seeing an even stronger team take our growth to a higher level in Thailand.”

Mr. Ler said, “Thailand is the largest general insurance market for Chubb in Southeast Asia. When the combination is completed, Chubb Samaggi will be the largest accident and health insurer, as well as one of the top 10 general insurers, in Thailand. With the broadest, multi-line distribution for consumer and commercial clients, I’m confident we are positioned to harness the potential of a high growth market.”

Khun Nittaya has more than 20 years of experience in insurance and reinsurance. Prior to her current role, Khun Nittaya also served as Chubb Samaggi’s Country President.  In addition to her current role, She is also a member of board of directors of the Thai General Insurance Association. 

Mr. Nisbet has also more than 20 years of experience in the industry. He started his career at Chubb in 2006 as an Accident & Health Account Manager in his native New Zealand. Since then, he has held several leadership roles with Chubb across New Zealand, Australia, Japan and the United Kingdom. Credited with building and profitably growing accident, health and travel portfolios through diverse channels, he relocated to Thailand to lead the team at Chubb Samaggi in 2019. 

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https://www.nationthailand.com/pr-news/more/pr-news/40021469

SEC officials visit Saudi Arabia’s Capital Market Authority

THURSDAY, OCTOBER 27, 2022

Officials from Thailand’s Securities and Exchange Commission (SEC) paid a courtesy visit to the Capital Market Authority of the Kingdom of Saudi Arabia in Riyadh to build a bilateral relationship, share information on capital market developments, and discuss possibilities for cooperation and challenges of mutual concern. Both sides also exchanged views on developmental policies of their respective capital markets.

On October  26, 2022, the SEC Thailand led by Ruenvadee Suwanmongkol, Secretary-General, and  Pornpong Sakdapat, Assistant Director of the Investment Management Policy Department, together with Worrapat Pensawang, First Secretary, the Royal Thai Embassy, Riyadh, the Kingdom of Saudi Arabia, paid a courtesy call to His Excellency Mohammed Bin Abdullah El-Kuwaiz, CMA Chairman, Khaled Bin Abdulaziz Al-Homoud, member of CMA Board of Directors, and other CMA executives, to discuss and share information on capital market developments of both countries as well as exchange views on capital market policies, challenging issues, and mutual cooperation.

On this occasion, Secretary-General of the SEC Thailand cordially extended an invitation to CMA to attend the IOSCO Annual Meeting 2023, which will be hosted by the SEC Thailand during 13-15 June 2023, and the SEC Thailand Public Conference on 16 June 2023. CMA has accepted the invitation.

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Terry Smagh to lead Infor’s cloud business in Asia Pacific and Japan

THURSDAY, OCTOBER 27, 2022

Asian leader and software as a service firm Infor has set its sights on aggressive cloud adoption across the fastest-growing region. The industry cloud company has announced the appointment of Terry Smagh as senior vice president and general manager for Asia Pacific and Japan.

Based in Singapore, Smagh will be responsible for growing Infor’s business and driving customer success across key markets in the region, including Australia and New Zealand, Greater China, Japan, India, Southeast Asia and Korea.

“Businesses today have moved past the point of merely navigating economic recovery and uncertainty. Instead, they are doubling down and investing aggressively in building the competencies, technologies and skillsets that will truly position them to thrive in a new era of business, and fast. Cloud will continue to play a crucial role in that,” said Smagh. 

“Terry is a seasoned expert in the Asia Pacific enterprise software market and comes armed with over 20 years of international experience in driving exponential revenue and market growth,” said Wolfgang Kobek, executive vice president and general manager for international business at Infor. 

Smagh brings deep industry expertise in SaaS and data analytics to his role at Infor and has a proven track record in helping customers transform and grow their businesses across the region. He joins Infor following senior leadership roles at BlackLine, IBM, and Qlik, where he played an instrumental role in driving revenue growth opportunities and profitability.

A Singaporean at heart, Smagh also has an extensive understanding of local and regional market nuances and growth opportunities, having worked in regional roles for most of his career.

With a background in entrepreneurship, Smagh is passionate about scaling businesses and grooming leaders, and a huge believer in “get the right team, and the rest will follow”.  

Smagh will be responsible for spearheading growth for Infor across a broad range of sectors in APJ, including industrial manufacturing, food and beverage, automotive, high tech, distribution and logistics.

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Marriott joins hands with SOS Thailand to continue improving food security and combating hunger in Phuket

THURSDAY, OCTOBER 27, 2022

THE NATION

Phuket, Thailand – October 16th is World Food Day, and considered an important day for raising awareness of global food waste. For the second consecutive year, the Marriott Bonvoy portfolio of hotels and resorts in Phuket, together with Scholars of Sustenance Foundation Thailand (SOS), and in cooperation with local authorities, have initiated a Rescue Kitchen activity on October 14th.

The objective is to promote World Food Day, and serve over 20,000 freshly cooked nutritious meals, along with drinking water, milk, and snacks to 18 local communities in Mueang Phuket, Thalang, and Kathu districts in Phuket. 

“Serving our world is one of Marriott’s core values. Marriott’s International Business Councils are formed in markets where there are multiple hotels to support the communities they operate in. Together with our local partner SOS, we’ve been serving thousands of nutritious meals across the island throughout the year and we plan to continue over the coming years.” said, Mr. Brad Edman, Multi-Property Vice President Phuket and General Manager at Renaissance Phuket Resort & Spa.

The Rescue Kitchen activity seeks to promote food equity – it demonstrates that everyone should have access to warm, nutritious meals regardless of their religion, skin color, race, age, or gender; and all sectors in the community shall take care and support each other. 

“At Marriott, we are dedicated to supporting the communities in which our associates and their families live and work. This is an important part of our culture and our core values.” added by Ms. Khanittanee Kanthanit, Director of Human Resources at JW Marriott Phuket Resort & Spa. 

This activity took place on Friday, October 14th, 2022 at Courtyard by Marriott Phuket Town with support from management and culinary teams from eight Marriott Bonvoy portfolio of hotels and resorts across the island including JW Marriott Phuket Resort & Spa, Renaissance Phuket Resort & Spa, The Westin Siray Bay Resort & Spa Phuket, Le Méridien Phuket Beach Resort, Phuket Marriott Resort & Spa Merlin Beach, Phuket Marriott Resort and Spa Nai Yang Beach, The Naka Island Resort & Spa, and Four Points by Sheraton Phuket Patong Beach Resort.
 

THE NATION