Thai sprinter Puripol Boonson narrowly failed to win the bronze in the men’s 100 metres final at the 19th World Athletics U20 Championships on Wednesday at the Estadio Olímpico Pascual Guerrero Stadium in Cali, Colombia.
The 16-year-old Puripol, who has emerged as one of the finest sprinters in Asia, finished fourth in 10.12 seconds after failing to get a good start. Despite a poor start and trailing initially, the Thai teen put in a spectacular burst, but was pipped at the tape for the bronze.
The performance was below his record-breaking 10.09 seconds effort to win his semi-final.
Botswana’s Letsile Tebogo won the gold, breaking the competition record, in 9.91 seconds, followed by Bouwahjgie Nkrumie from Jamaica (10.02 seconds) and Benjamin Richardson from the US (10.12 seconds).
Puripol had burst into the limelight with three gold medals in the 31st Southeast Asian Games in Hanoi in May.
Thai golf fans will have a chance to watch some of the best golfers from around the world at the first LIV Golf Invitational Series in October, organised by Stonehill.
The Stonehill golf course, where the event will take place, was opened recently at Chiang Rak Noi, in the Sam Khok district of Pathum Thani province, in the presence of numerous business tycoons and dignitaries.
Stonehill has said it is ready to serve as a new landmark in the areas of sports and tourism. The founders, businessmen Sarath Ratanavadi and Saris Ratanavadi, said they wanted to create a world class Thai golf course in terms of golfing standards and services.
“The vision and goal of the project is to improve Thailand’s sports and tourism industries,” said Sarath Ratanavadi, chairman of Stonehill Estate Co Ltd. “It is with this intention that the Stonehill project, which is fully equipped with sports and leisure lifestyles, was developed and launched. By working with leading experts in Thailand and abroad to jointly design and develop this, we saw an opportunity to raise the standard of golf courses in Thailand to be equivalent to international standards and to be a place where international golf tournaments can be held,” said Sarath.
“Stonehill is honoured to host the world’s first LIV Golf Invitational Series in October 2022, thanks to attentive management and supervision by a team of experienced professionals. This is a fantastic opportunity for Thais to watch a golf tournament that brings together the best golfers from around the world. The event also fosters Thai pride, and I am confident that it will establish Stonehill as a new destination and golf course in Thailand that can proudly claim to be world class,” he added.
Saris, the executive director of Stonehill Estate Co Ltd, said, “I was given an opportunity by my father to build Stonehill, so the challenge was to be more than just a golf course. It must be fully functional in the golf course facilities and hospitality services.”
“I chose the best at every stage, from design and construction to the selection of all people involved in the Stonehill project, to bring our golf course up to par with, if not to exceed, the rest of the world,” he said. “This was originally bare land. We meticulously crafted it step by step. The design combines modernity and traditionalism to create something that is both contemporary and timeless. The materials used in its construction, such as limestone, were imported from Verona, Italy, and were chosen by my father. We chose Thai teak wood for the woodwork,” Saris added.
Sarath Ratanavadi and Saris Ratanavadi , Chairman and Executive Director of Stonehill Estate Co., Ltd.,
“We wanted the trees and vegetation chosen for project decoration to create an atmosphere that makes you feel like you’re in a foreign country, so you don’t have to travel abroad to play a good game of golf…This is going to be a destination for everyone, not just golfers.”
Stonehill was created by renowned American architect Timothy Slattery of Hart Howerton and golf course designer Kyle Phillips. The architectural design is inspired by the neo-classical era, integrating old and new influences.
Spread over 950 rai (152 hectares) of land, Stonehill is divided into different zones, each with unique atmospheres and functions. There are two restaurants, Ubuntu and Rock Creek, as well as a bar called Firefly. There’s also The Pavilion, a large banquet hall that can host a variety of celebrations, Saris said.
Kyle Phillips and Timothy Slattery
Among the notable guests who attended the launch event were Chartsiri Sophonpanich, Wannaporn Phornprapha, Somchai Lertsutiwong, Aiyawatt Srivaddhanaprabha, Vicha Poolvoraluk, Keeree Kanjanapas, Vichai Bencharongkul, Predee Daochai, Anutin Charnvirakul, Pol General Chakthip Chaijinda, Aloke Lohia, Bhurit Bhirombhakdi, Visarut Rangsisingpipat, Tharaphut – Nittha Kuhapremkit, Saeranee Charnvirakul, Chanand Sophonpanich, Kamolnan Chearavanont, Pasu Liptapanlop and Palin Lojanahosin.
With an impressive eight wins in a row inside the One Championship Circle, Nong-O Gaiyanghadao has proven himself to be one of the most difficult men to defeat on the Singapore-based promotion’s roster.
The reigning One bantamweight Muay Thai king will put his gold on the line for the sixth time when he faces Liam Harrison at One Fight Night 1: Moraes v Johnson II at the Singapore Indoor Stadium.
British striking sensation Harrison earned a title shot against Nong-O after an almost unbelievable one-round war with Muangthai PK.Saenchai in May, and the reigning world champion is looking forward to facing the formidable foe he has long admired.
“It might seem ridiculous to say that my favorite Muay Thai fighter and kickboxer is Liam Harrison, my next challenger. I’ve been following him for quite a long time. I love his style. His fights are always exciting and fun to watch,” he said.
“For our world title fight, I believe that both of us will go all out. And I am sure that it will end with a knockout, either for him or me. It depends on whose weapons will hit the target first. He has heavy punches and kicks. I have them, too. Let’s see who will do better in the Circle.”
Fans of the Thai superstar are well-aware of his striking abilities. Nong-O’s weapons have earned him the highest accolades a Muay Thai athlete can hope to achieve, including four Lumpinee Stadium world titles and a Rajadamnern Stadium world championship.
The 35-year-old has accumulated a jaw-dropping record of 262-54-10 and has taken down the likes of Felipe Lobo, Rodlek PK.Saenchai, and Saemapetch Fairtex.
Now with his sights set on Harrison, the soft-spoken Nong-O is determined to further cement his dominance on the division he reigns over – and he offers a warning to his upcoming opponent ahead of their world title scrap.
“Don’t mistake my kindness for weakness. Once the cage is locked, there is no escape. I’m coming for blood,” he said.
ONE Fight Night 1 live on Sat 27 Aug, can watch on watch.onefc.com, ONE Super App, youtube ONE Championship, AIS Play (for AIS member only) from 08:00 am onwards, Thairath TV Channel 32 from 10:30 PM onwards.
The Thai Women’s Professional Golf Association has launched a campaign called “Old for You But New to Me” to gather donated golf wear and equipment for youngsters during every Thai WPGA event.
The charity project, initiated by Thai WPGA secretary-general Sarinee Leksuwan, allows young players to have some golf experience through the used but still in good condition items of professional players.
“Actually this type of project had been done before. When young players see the pros in great outfits and play with nice equipment, they wish they could have the same outfits and use the same equipment. Unfortunately, many don’t have the privilege to do that,” said Sarinee, the first professional female golfer in the Thai history.
“So, instead of keeping cloths from sponsors that we don’t use, we should give them to these kids or people in need so that they will be impressed with the opportunity that they wouldn’t normally have,” she added.
“Apart from golf wear, we also need golf equipment such as putters or wedges that can be used for our next project,” Sarinee said.
The Thai WPGA also eyes on another project named “First Swing” which will allow those with fewer opportunities to taste their first golf experience.
“We want golf wear and equipment that players really use. The equipment should be in a playable condition. We will pass them on to schools or via the Hua Hin Singha Development Project. Children and school students will feel great that they can wear and use the same outfits and items as the pros do,” Sarinee said.
“As we already have a lot of good opportunities in life, we should share them with others as well. Generosity is needed in our society. We have already started receiving donated items at this 5th SAT-TWT Open and we will carry on this activity from now on wherever our tour stops,” she said.
People who wish to donate golf items can contact the Thai Women’s Professional Golf Association on ThaiWPGA Facebook Fanpage.
Around 70 captivating paper artworks from two talented Taiwanese artists are on display at Suan Sunandha Rajabhat University, highlighting the beauty of the island’s paper craft that portray ecological diversity and nature-friendly ideas.
The Taipei Economics & Culture Office in Thailand opened its Taiwan Eco-Island Paper Art Exchange Exhibition on Tuesday at the university.
Attendees at the opening ceremony got to see the skillful transformation of pieces of paper into all manner of three-dimensional sculptures.
They were also treated to live demonstrations and instructions by artist Hsin-Fu Hung on the basics of paper folding.
Hsiu-Mei Hsueh, deputy representative of the Taipei Economic & Cultural Office, said both paper art and origami are traditional crafts of Taiwan.
Folding paper into a plane, a frog, or even a crane is an interesting memory for almost every child in Taiwan, she pointed out.
Hsueh said she was glad to see this cultural collaboration between Taiwan and Thailand.
In the exhibition, two artists – Hsin-Fu Hung and Ching-Yao Liang – incorporate elements from Taiwan’s ecosystems and cultural/social milieu into their artworks.
Taiwan is an eco-island rich in biodiversity while its paper art mirrors both the natural environment and its cultural social background.
It has developed its own particular style “distinct from traditional Chinese paper art” and has “transcended the boundaries” of Japanese origami.
For the exhibition, Hung created ten large paper animal busts, including those of the Formosan buffalo, Formosan sika deer and the Taiwanese black bear.
Meanwhile, young artist Ching-Yao Liang introduced three-dimensional paper artwork that depict various objects, including puzzle game cards and a paper replica of the Alishan forest train.
One unusual feature of Liang’s works is that through his skillful utilisation of precise mathematical calculations and particular characteristics of paper in addition to ingenious designs, his art pieces often incorporate elements of manoeuvrability and interactivity so everyone can actually have fun playing with them.
Catch the exhibition until August 31 at Suan Sunandha Rajabhat University’s Chudharatanabhorn building.
Mercedes-Benz introduces Online Showroom full-scale e-commerce platform through its website, offering new channel for customers to easily book & buy cars in just a few clicks
Mercedes-Benz officially introduces e-commerce platform through its website at mercedes-benz.co.th allowing customers to reserve and make a purchase all Mercedes-Benz models by themselves within a few clicks.
Customers can also choose to be in contact with any of Mercedes-Benz showrooms and service centres, marking a new era for Mercedes-Benz in offering a seamless Mercedes-Benz online-to-offline experience to customers across the country.
Roland Folger, President and CEO of Mercedes-Benz (Thailand) Limited, said “Mercedes-Benz has continuously studied and observed Thai consumers’ behaviour. We have found that digital platforms both in terms of websites and social media have become more and more important for consumers today, especially during the past few years as we face the COVID-19 situation. Digital platforms provide them with a way to easily access brands and products. And on the other hand, it is also a way for brands to reach and get closer to consumers. With cars, although consumers may need to have a test drive or at least experiencing the actual products before making decision to buy, it is not an obstacle for a digital platform to provide all information they would need about a car and offer them the opportunity to reserve or buy a car online. With the launch of our e-commerce platform as a new channel to generate growth in terms of sales, Mercedes-Benz is committed to providing a seamless online-to-offline experience to consumers while strengthening our brand presence in Thailand.”
Mercedes-Benz is set to offer a digital car booking and buying experience that is seamlessly connected to Mercedes-Benz’s authorized dealers at its website at www.mercedes-benz.co.th. Customers can start booking Mercedes-Benz cars from the home page by clicking on “Buy” at the top left. Then, you can select the desired topic such as “Buy through Online Showroom”, “Promotions”, “Book a test drive”, “Price lists & brochures”, “Collections & Merchandise” etc.
When you click on “Buy through Online Showroom”, the website will take you to explore available vehicles where you can choose the model or body type you want. Then, you can choose your preferred dealer by using the website’s filter which will result in the preferred model and dealer. The cars that appear on this page are those that are currently in stock. Mercedes-Benz will keep customers updated about the estimated delivery time and will notify them when the car is ready to be delivered later on.
Next step, you can also choose to click “Request for Quote”, where the website will ask for your details to contact you back or click “Proceed to payment ” to select payment options and learn more about instalment calculation. Once you decide on your preferred payment option, you can make a payment to reserve your desired car right away.
More details about this newly launched e-commerce platform can be found at www.mercedes-benz.co.th. You can also learn more information about any of the Mercedes-Benz models at Mercedes-Benz’s authorized dealers nationwide.
Kiatnakin Phatra Financial Group (KKP) reported a net profit of 4.08 billion baht in the first half of this year, up 45.1 per cent year on year.
KKP chief executive officer Aphinant Klewpatinond said commercial bank loans, especially hire purchase and home loans, grew by 10 per cent.
He added that the group’s brokerage business had No. 1 market share at 18.18 per cent, while the investment business grew considerably from equity and derivative trading, which made good profits despite volatile conditions.
“As for investment banking, the number of transactions declined at the beginning of the year, but large transactions are expected in the second half,” he explained.
He added that the group’s wealth management business had assets under advice of 700 billion baht.
Debtor repayment rate was better than expected, as a provision of 1.87 billion baht was set aside, a considerable decrease from the previous year, he said.
He said they would continue to focus on commercial banking and capital markets to develop complete and seamless services for customers and diversify sources of income to prepare for a more volatile future.
“KKP will leverage the country’s financial technologies and infrastructure that reduce size or network constraints to allow the bank to compete equally with others,” he said.
“At the same time, KKP continues investing in systems for its core businesses, such as loans that we believe to have room for growth.”
He added that the group has prepared to assist customers who may be affected by prolonged economic slowdown caused by the Covid-19 pandemic.
“However, sustainable relief efforts rather than immediate measures will be emphasised in order to best benefit customers during prolonged economic downturn,” he added.
Meanwhile, Kiatnakin Phatra Bank president Philip Chen Chong Tan said in the first half of this year, bank loans generated interest income of 69 per cent, mainly from secured retail loans, including auto hire purchase loans (up by 11 per cent) and home loans (up by 19 per cent).
He added that the bank will streamline internal systems and processes to make credit approval more efficient and accessible through the KKP Mobile app, launch new credit products like KKP Auto, and expand the service network through partnerships.
“In addition, to help alleviate high household debt and support sustainable growth, the bank will strive to empower customers financially by increasingly linking our banking services to investment services,” he added.
Kiatnakin Phatra Bank head of finance and budgeting Preecha Techarungchaikul explained that KKP had a net profit of 4.08 billion baht in the first half of this year, up 45.1 per cent year on year. Net profit from the capital markets was 672 million baht, he added.
“Provision in the first half of 2022 was reduced as loan quality remained at a manageable level, with an NPL coverage ratio of 169.1 per cent,” he said.
He said the bank saw an increase in both net interest and non-interest incomes.
Net interest income amounted to 8.77 billion baht, up 15.1 per cent year on year, while non-interest income was 3.80 billion, up 2.2 per cent, he added.
“The bank had a BIS ratio of 16.56 per cent, which was calculated according to the Basel III rules and included profits up to the end of the second quarter this year, and Common Equity Tier 1 of 12.99 per cent,” he added.
The five members of the board of the National Broadcasting and Telecommunications Commission on Wednesday unanimously decided to defer a decision on the merger of two giant telecom operators.
Trairat Viriyasirikul, acting NBTC secretary-general, said the five commissioners said they would need more information before making a decision on measures to prevent monopolistic or unfair trade practices following the merger of True Corporation and Total Access Communication Plc (DTAC).
Trairat said the NBTC on Wednesday considered the request for the merger by the second and third-largest mobile phone operators in terms of number of customers.
He said the five commissioners on Wednesday considered five categories of information:
– Studies by four subcommittees on the merger deal
– Results of public hearings of three focus groups
– A report on possible economic impact from the merger from the NBTC Office
– A study by Chulalongkorn University on the impact of the merger
– Opinion from an independent adviser, Finansa Securities Ltd.
After studying the information presented on Wednesday, Trairat said the five commissioners found the presented information inadequate and not comprehensive enough to design measures to protect consumers and to prevent possible damage to the telecom industry.
Trairat said the commissioners have asked the NBTC Office to come up analyses of six aspects:
– Business structure of the merger deal, all licences that True and DTAC have, and the licences which will be controlled by the new company
– Possible impact on management and businesses as well as competitions by holders of telecom licences to be controlled by the new company
– Analyse cost savings from the new economies of scale following the merger and how to translate the saved money into benefits for consumers
– Analyse ownership of telecom bandwidth by the new company to see whether it would have an advantage in the market
– Analyse possible measures for reducing airtime prices and to maintain service quality to reduce impact on consumers in the short, medium and long term
– Analyse measures for promoting mobile virtual network operator (MVNO) and to propose measures for revising regulations so that MVNO services would have higher competitiveness and become an alternative operator for consumers.
Bangkok, August 3, 2022 – Bitkub Blockchain Technology, Bitkub Chain and Blockchain Total Solution Provider, which aims to be an infrastructure of the Thai blockchain ecosystem, explained in-depth technology from the beginning to the present and emphasized the importance of blockchain technology by Mr. Samret Wajanasathian, Chief Technology Officer (CTO) of Bitkub Blockchain Technology via Bitkub Chain Official Facebook Page.
All of the information is concluded as follows:
The Beginning of the Bitkub Chain
The Bitkub Chain project idea originated from 3 main visions which are 1. Able to allow everyone to easily interact with blockchain DApps (support mass adoption) 2. To make the blockchain secure and stable 3. Enhance on-chain user experience
Bitkub Chain technically derived some of the technology from Ethereum (EVM Compatibility). This allows developers to build decentralized applications (DApp) on Bitkub Chain with several advantages such as rapid on-chain processing data, low transaction fees, and compatible consensus.
New Technology Developed on Bitkub Chain
1. KUB Coin – A native utility token on Bitkub Chain, which can be used for several utility functions such as on-chain gas fee payment, convertibility to fee credits, locking coins within a certain period of time, and earning various digital assets and redemptions for partners’ services and products.
2. Block Size – The block size of Bitkub Chain has been set to 60,000,000 Gas. Nevertheless, the block size could be increased in the future or more than other chains such as Ethereum to support on-chain transactions. (In 2021, Ethereum was set at 15,000,000 Gas).
3. Block Time – Bitkub Chain started with Proof-of-Authority (POA) consensus, which the system is fixed to around 5 seconds. This can be claimed that the confirmation time is faster than Ethereum. In addition, the time variation is extremely low due to the network’s low latency, and the speed can be calculated from the block size and transaction per block. The number adjustment is also becoming a challenge in technical terms. However, the process depends on the other factors to enhance the adjustment to be more practical and stable on the blockchain.
4. Transaction Fee – Bitkub Chain used a different mechanism called “Fixed Minimum” to stabilize the transaction fee to 50 GBit, which can suit several business use cases and gas fee estimation for both its users and developers. Furthermore, the high transaction fee is one of the main pain points for blockchain adopters, which depends on the crypto-economic model. In comparison, Ethereum uses the dynamic gas price mechanism based on the congestion on the network, which is different from Bitkub Chain. To clarify, the more the network is congested, the higher the gas price and transaction fees.
5. Hyper Block – A mechanism to aggregate the transactions from several wallet addresses on Bitkub Chain. Hyperblock can increase the speed of the transaction by over 1,000 transactions per second (TPS), making Bitkub Chain process faster and more secure. Hyperblock consists of four main parts:
a. Backend Service – the technology to help manage the “Backed Transaction Pool” by calling all of the data transactions at once via contract address. In addition, the Transaction Defragmentation Mechanism can increase the efficiency of the remaining block size.
b. Gas Tank Module – The wallet addresses to pay the transaction fees for the users on Bitkub Chain.
c. KAP Standard (Smart Contract) – Standard token on Bitkub Chain forked from ERC Standard. Bitkub Chain also invents 3 main functions which can secure the ecosystem:
getOwner() : The function is to help investigate the owner of smart contracts on Bitkub Chain to be more transparent.
batchTransfer (from , to[] , value[]) : The function is to help call a thousand transactions at once to record the data into the blockchain. This can economize the transaction fee and rapidly distribute a large number of coins.
adminTransfer(from , to , value) :The function of the KUB coin working group is appointed to monitor the law infringement actions such as Rug Pull. They can use this function as a majority agreement or appointed by the court to take action to retrieve back all of the stolen assets.
d. Fail-Safe Mechanism – The Fail-Safe mechanism works by using an off-chain engine to detect the failed transaction in the transaction pool and try to diagnose the root cause of the failure.
6. Security – Bitkub Chain’s security system is designed based on fundamental safety, which comes with a registration feature to protect users’ assets. However, the full functionality of KYC will be available in the future.
Bitkub Chain As Thailand’s Future Digital Infrastructure
1. Gas Optimization from 50 Gbit to 5 Gbit – Bitkub Chain’s vision is to prepare for mass adoption in the future. To align with the new configuration, KUB Coin supply was reduced to 110,000,000 KUB and the distribution was also revised to ensure balanced incentives for a sustainably growing ecosystem.
2. Byte Code – The fundamental encoding Bytecode to compare the smart contract similarity with KAP fundamental Bytecode. This could help reduce human errors from inserting the wrong code into DApps.
3. Bitkub Chain Layer-2 – Bitkub Chain launched Bitkub Chain Layer-2 or “BKC Ping” on June 29, 2022. It is the secondary framework or protocol that is built on top of the Bitkub Chain (Layer-1) to maximize the efficiency of blockchain utilization. For instance, it can reduce the transaction traffic and fee and inherits the security from Layer-1 with fraud-proof. In the future, there will be the launching of another 3 frameworks which are Wang, Yom, and Nan.
4. Software Development Kit (SDK) – Bitkub Chain software development kit was designed to facilitate almost all developers to connect with Bitkub Chain. To clarify, this software development kit has several advantages, including 1. To handle transaction submissions to blockchain 2. Transaction gas fee support 3. Environment testing (helps developer debug and deploy on mainnet) 4. Less time is needed for project development on Bitkub Chain.
5. BKC Oracle – The main infrastructure on Bitkub Chain that connects the data from the real world to blockchain and supports blockchain developers to use the tools and platform more efficiently.
6. Static Web Hosting – The technology that can bring the website to use on blockchain by using Bitkub Chain as Database to connect with Smart Contract from Software Development Kit (SDK).
Technical Paper (Yellow Paper)
Technical Paper (Yellow Paper) is officially announced on http://www.bitkubchain.com and published through Bitkub Chain Official Facebook Page. In addition, The Technical Paper (Yellow Paper) has already been verified by independent specialists.
Mr. Samret Wajanasathian, Chief Technology Officer (CTO) of Bitkub Blockchain Technology, said, “I would like to ensure that Bitkub Chain has always been and uses a high standard of blockchain technology. For example, we have KUB Coin, the native utility token on Bitkub Chain. Our system has an estimated 2 million wallet addresses which are composed of an estimated 990 thousand Bitkub NEXT accounts and 83.5 million transactions. We still strive to continuously develop our technology for Thai people and prepare for mass adoption in the future”
True and Dtac have come out against a news article titled “AIS presses NBTC on mega merger”. According to the firms, the article stated that the merger may violate applicable laws and require explicit approval from the National Broadcasting and Telecommunication Commission.
The companies said they are in “full compliance with the law” and insisted that “AIS’s attempt to compare the deal with other 3BB acquisitions in not applicable”.
True and Dtac said they wish to clarify the issues as follows:
• Mergers in the Thai telecommunications industry have been consistently and continuously carried out. Since the 2018 NBTC notification on mergers (the “2018 NBTC Notification”) came into force, there have been at least 9 merger cases whereby NBTC had considered the mergers according to the 2018 NBTC Notification by issuing resolutions to acknowledge the notification of those mergers. Since then, has never resolved to ”approve”: or “disapprove” the merger cases and adopt the 2006 NBTC Notification in considering such 9 merger cases. We believe that NBTC will uphold its principles fairly and apply the same standards as previous merger cases without discrimination in considering the amalgamation of True and Dtac.
• It is inaccurate and misleading to refer to laws and regulations applicable to other industries (e.g. energy and banking sectors) to the mergers in the telecommunications sector which has caused confusion to the public because each regulated sector has a specific regulatory body and regulations to oversee mergers. Therefore, the regulations and practices in the telecommunications sector in which the private sector has complied with, have to apply in considering merger cases the telecommunications sector. For the telecommunications sector, NBTC has the power to impose specific measures in accordance with the 2018 NBTC Notification which is the specific regulation applying to mergers in the telecommunications sector. True and Dtac have fully complied with all procedures required in connection with the proposed amalgamation both as governed by the NBTC and the Public Limited Companies Act B.E. 2535.
• The amalgamation of True and Dtac and the acquisition of 3BB by AIS are incomparable because each of them is subject to different NBTC’s notifications
o The 2006 NBTC Notification regarding the acquisition of shares or business, and significant assets between telecommunication licensees (the “2016 NBTC Notification”)– the acquisition of 3BB by AIS is captured by this 2006 NBTC Notification as it refers to acquisition of shares or assets of another licensee, which requires prior approval from the NBTC.
o With respect to the amalgamation between True and dtac, such amalgamation has to be considered in accordance with the 2018 NBTC Notification which specifically regulates the amalgamation of telecommunication licensees or their controlling persons. The 2018 NBTC Notification repealed the 2010 NBTC Notification. Therefore, referring to the 2010 NBTC Notification as the regulation applying to mergers creates confusion because 2010 NBTC Notification is no longer in effect.
• With respect to Somchai, AIS Executive’s comment in The Bangkok Post questioning whether the foreign shareholders of True and dtac have an understanding of Thai laws and regulations, True and dtac reaffirm that the two companies and their major shareholders have undertaken their businesses in strict adherence to corporate governance principles and ethical business practice, including treating business partners and competitors with respect, adhering to the pillars of fair competition, and complying with relevant laws and regulations in all jurisdictions in which they invest and operate. With respect to this amalgamation, the parties have thoroughly considered all applicable Thai laws and regulations to ensure full compliance with all relevant procedures.
• Linklaters (Thailand) Co., Ltd. and Allen and Overy (Thailand) Co., Ltd., legal counsels to True Corporation Public Company Limited and Total Access Communication Public Company Limited respectively, have provided legal view to True and dtac regarding the amalgamation between True and dtac as follows:
o “Based on the NBTC’s practice in considering the amalgamation and merger and acquisition cases in the past, after the 2018 NBTC Notification came into force since 20 January 2018, there were at least 9 merger cases where merging parties notified the NBTC of their mergers in accordance with the 2018 NBTC Notification. In all those cases, the NBTC had resolutions to acknowledge the merger notifications without issuing an order to “approve” such merger cases and the NBTC’s consideration of such merger cases did not base on the 2006 NBTC Notification.”
o “Even though NBTC does not have the power y to approve or disapprove the amalgamation, it has power to regulate the amalgamation according to Clause 12 of the 2018 NBTC Notification to impose specific conditions or measures to the business operators with significant market power in the telecommunications market, in order to prevent damage to the public interests.”
• True and dtac reiterate that True and dtac have followed all required procedures, including having obtained approvals from the Board of Directors and shareholders of True and dtac and the management of True and dtac having carried out all the required steps. We are confident that the new tech company arising from this amalgamation will deliver greater benefits and values to the Thai consumers, businesses, society, and support the country’s sustainable development going forward. The new tech company will enable Thailand to take advantage of the perfect storm of new technologies such as artificial intelligence, 5G, Internet of Things and deliver new products and services through partnerships with global platform companies. Thailand needs two strong market players, not one strong and 2-3 weak players, which does not promote effective competition.
Sarath Ratanavadi and Saris Ratanavadi , Chairman and Executive Director of Stonehill Estate Co., Ltd.,
Kyle Phillips and Timothy Slattery
