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Tag: bangkok

  • Louis Vuitton in Thailand expands to Phuket

    Louis Vuitton in Thailand expands to Phuket

    Louis Vuitton in Thailand has unveiled a new store in Phuket, its first store outside the capital city of Bangkok. 

    Located in Central Phuket mall, the new boutique features unique interiors as the brand wants to embrace local elements and yet keep its international spirit.

    The interior expresses the Maison’s codes with subtle off-white cut-out panels in a pattern that reflects Louis Vuitton’s famous monogram motif, which appears to float like lace.

    The wall sculptures and installations reflect the store’s Sino-Portuguese style.

    Finally, to reflect the environment of Louis Vuitton in Thailand, tropical plants are placed through the store to highlight “tropical modernism”.

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  • Thailand’s AIS aims to educate people on importance of e-waste management through new campaign

    Thailand’s AIS aims to educate people on importance of e-waste management through new campaign

    The campaign encourages people to throw their electronic waste like old AC adaptors, old mobile phones, power banks, broken devices and others into e-waste bins which are equipped with IoT technology to collect and get rid of e-waste.

    The CEO of AIS, Somchai Lertsuitwong explained that the initiative is seeking to reduce carbon dioxide emissions equivalent to one million units and eradicate at least 100,000 pieces of e-waste by 2020.

    “AIS is heading towards its 30th year of operation and we take pride in being part of Thailand’s history. In the last three decades, especially in the continuous growth of the telecom industry contributing to a better quality of life among Thais nationwide,” Somchai said.

    He further added that “being No. 1 in the telecom industry is due to our dedication to the pursuit of creating innovative products and services for the benefit of society and the country.”

  • Kasikorn Bank announced the nine-month period of 2019 net profit of Baht 29,924 Million

    Kasikorn Bank announced the nine-month period of 2019 net profit of Baht 29,924 Million

    Ms. Kattiya Indaravijaya, President of KASIKORNBANK, said Thai economic activity in the third quarter of 2019 continued to see few supports, after growing by 2.30% in the second quarter of 2019. The Thai economy showed signs of strength in the third quarter of 2019, due mostly to the low base effect of the same period last year, especially in the tourism sector. However, exports and private investment – two major economic drivers – continued to slow in line with the sluggish global economy and trade volume amid the protracted US–China trade negotiations and concerns over Brexit risks. For the final quarter of this year, a brighter outlook seems to be in store for the Thai economy, thanks to the government’s stimulus measures.

    Operating performance for the nine–month period of 2019, KBank and its subsidiaries reported net profit of Baht 29,924 Million, and reported net profit of Baht 9,951 Million, for the third quarter of 2019.

    Operating performance for the nine–month period of 2019 compared with the same period of 2018, KBank and its subsidiaries reported net profit of Baht 29,924 Million, a decrease of Baht 1,502 Million or 4.78% over the same period of 2018. Net interest income increased by Baht 4,051 Million or 5.54% mainly due to interest income from loans to customers and investments.  NIM stood at 3.34%.  Non–interest income decreased by Baht 2,753 Million or 6.20% mainly due to a decrease in net premiums earned – net and fees waive for money transfers through digital channels, while revenue from sale of securities increased.  Moreover, other operating expenses increased by Baht 2,684 Million or 5.49%, resulting in the cost to income ratio that stood at 43.41%.  KBank has set aside higher allowance for impairment loss on loans from the preceding quarter, with prudent consideration on factors in line with uncertainties from continued economic slowdown.

    Operating performance for the third quarter of 2019 compared with the second quarter of 2019, KBank and its subsidiaries reported net profit of Baht 9,951 Million, a slight increase from the preceding quarter of Baht 22 Million or 0.23% mainly due to an increase in net interest income increased by Baht 326 Million or 1.27%.  NIM stood at 3.34%.  Moreover, non – interest income increased by Baht 2,139 Million or 15.68% due mostly to revenue from sale of securities increased.  In addition, other operating expenses was approximate to the previous quarter.  In this quarter, cost to income ratio stood at 42.52%.  However, KBank has set aside higher allowance for impairment loss on loans from the preceding quarter, with prudent consideration on factors in line with uncertainties from continued economic slowdown.

    As of 30 September 2019, KBank and its subsidiaries’ total assets were Baht 3,240,134 Million, an increase of Baht 85,043 Million or 2.70% over the end of 2018.  The majority came from an increase in investments – net and loans.  NPL gross to total loans as of 30 September 2019 stood at 3.53% while at the end of 2018 this stood at 3.34%.  Coverage ratio as of 30 September 2019 stood at 153.58%, while at the end of 2018 this stood at 160.60%.  In addition, as of 30 September 2019, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) according to the Basel III Accord was 19.10%, with a Tier–1 Capital ratio of 16.76%.

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  • Big C opens first store in Cambodia

    Big C opens first store in Cambodia

    Supermarket chain Big C has opened its first store in Cambodia.

    The firm has opened on a more-than 2ha site in Poipet, a booming town on the Thai/Cambodian border, with a reported investment of US$6.8 million and offering more than 1200 jobs.

    A statement on the firm’s Facebook page reported by the Khmer Times read: “A soft opening for the Poipet Hypermarket was held under our vision to be the leading Thai retailer with customers at heart.”

    Cambodia is now the fourth country Big C operates in, following Thailand, Vietnam and Laos.

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  • Thailand To Shine For IPOs in 2020

    Thailand To Shine For IPOs in 2020

    Amidst growing investor interests in firms focussed on Southeast Asian consumers, Thailand, and the Philippines are seeing a pick-up in initial public offerings (IPOs). Thailand is expected to shine next year, says Credit Suisse.

    Although Singapore still leads on overall first-time share sales in Southeast Asia in 2019, it has achieved this mainly through offerings of real estate and business trusts. In Thailand, 11 companies raised a total of $1.9 billion from January to 4th October, far surpassing the $100 million raised by five firms in the same period a year ago, according to Refinitiv data. The data excludes real estate and business trusts.

    We expect Thailand to be one of the stronger IPO markets in 2020. Some more large IPOs have started preparations this year and are set to list next year, said Ho Cheun Hon, head of Southeast Asia equity capital markets at Credit Suisse.

    Bankers point to the deal pipeline for Thailand next year, which includes fundraising by a subsidiary of the mega-retailer Central Group, a retail arm of oil company PTT and others.

    Ho explains that international fund managers continued to be attracted by the growth in consumption across Southeast Asia.

    On Thursday, Asset World Corporation, the hospitality and property firm listed by Thai billionaire Charoen Sirivadhanabhakdi, and Philippine home furnishing retailer AllHome Corp, would start trading. The two firms have raised $1.6 billion and $285 million, respectively.

    Asset World Corporation was the largest IPO by a Thai firm, while AllHome was the Philippines’ biggest in three years. In the Philippines, Allhome is the third company to tap the local market this year, compared to just one IPO last year.

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  • Thai Airways adds a sixth weekly flight between Brussels and Bangkok

    Thai Airways adds a sixth weekly flight between Brussels and Bangkok

    Thai Airways is very pleased to announce the launch of its 6th weekly non-stop flight Bangkok – Brussels  – Bangkok every Monday.

    As from 28th of October 2019, THAI will operate 6 non-stop flights per week on the route Brussels – Bangkok and return, all operated by Airbus A350-900 including Royal Silk Class (Business) and Economy Class.

    TG934 BKK 00:30 - 07:40 BRU A359 12-4567
    TG935 BRU 13:30 - 05:35+1 BRU A359 12-4567

    Tickets on the new Monday flight can be booked as from today via https://www.thaiairways.be or via any travel agent in Benelux.

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  • Muji Thailand to open largest store yet in the country

    Muji Thailand to open largest store yet in the country

    Muji Thailand is launching its largest outlet at Bangkok’s new 222,000sqm mixed-use lifestyle complex, Samyan Mitrtown.

    The store will feature a “Muji Coffee Corner” designed in a minimalist style serving coffee made from Thai beans sourced from mountainous Doi Tung.

    The brand operates Muji restaurant concepts in Japan and Singapore, prompting speculation that the coffee corner may expand into a diner at some later time.

    The new Muji Thailand store is easily accessible from MRT Samyan’s exit No. 2.

  • Thailand’s Jaspal Group ells accessories brand Lyn to India

    Thailand’s Jaspal Group ells accessories brand Lyn to India

    Thailand’s Jaspal Group has launched its accessories brand Lyn in India.

    The group’s first store in the territory is opening at Select CityWalk Mall in New Delhi, offering its full range of fashion accessories from runway-inspired handbags and wallets to shoes, as well as staple accessories from watches to eyewear.

    The brand says its Fall/Winter 2019 collection available in-store is designed to evoke the warm summer desert shifting to the elegance of European urban, “promoting modern women’s confidence, self-expression, and sophistication”.

    Lyn has operated across Southeast Asia for 18 years, with 50 stores in Thailand, two in Cambodia, and 10 in Vietnam.

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  • Thailand’s Central Group names new executive commitee

    Thailand’s Central Group names new executive commitee

    Thailand’s Central Group has appointed Stephane Coum as CEO of Central Food Retail Group.

    The appointment coincides with Alistair Taylor being handed the role of president of Central FamilyMart. Both appointments are part of the firm’s strategy to develop borderless retail and digital technology.

    Central runs food stores and supermarkets in the territory, with its Central FamilyMart subsidiary responsible for its convenience stores.

    Stephane Coum has worked in the global retail industry for more than 20 years, and was previously operations director for Carrefour Italia.

    A statement by the firm said Coum will lead CFRG to become a leader in innovation, gaining market share and growth in sales and profits. He aims to transform the business through the use of technology and digital tools.

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  • Thailand’s MK Group buys into seafood restaurant chain

    Thailand’s MK Group buys into seafood restaurant chain

    Thailand’s MK Restaurant Group will purchase a 65 per cent shareholding in the Lam Charoen Seafood chain.

    The 40-year-old restaurant brand, which has 26 branches across Thailand, will sell for THB2.06 billion (US$67.13 million), according to an announcement posted to the Thai stock exchange last Friday.

    The acquisition, which will most likely close by December, will take place via MK Restaurant Group subsidiary Catapult, funded by working capital.

    MK Restaurant Group currently operates more than 400 locations under several brand names including MK, Yayoi, Miyazaki, Hakata, Bizzy Box, Le Petit and MK Harvest.

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  • Siam Piwat gives mall space to disabled and underprivileged suppliers

    Siam Piwat gives mall space to disabled and underprivileged suppliers

    Thai shopping-centre operator Siam Piwat has created special zones in two of its malls stocking products made by people with disabilities, underprivileged people and special-needs children.

    Called Made by Beautiful People, the products are now available at IconCraft on the fourth floor of IconSiam and in the ODS (Object of Desire Store) on the third floor of Siam Paragon. Both malls are in Bangkok.

    The initiative is an expansion of its ongoing social contribution Citizen of Love, launched in 2009 in which it aims to “share love, provide opportunities and bring pride and equality for all Thais”.

    Space for the Made by Beautiful People displays is provided free by Siam Piwat.

    “With an aim to inspire, to create opportunities and generate sustainable careers and income for the underprivileged people, the company offers full assistance for the sales and marketing of the products,” said a Siam Piwat spokesperson.

    “Products now available are from seven pioneering charitable organizations and groups:  Vocational Development Center for the Disabled, Light for the Disabilities Foundation, Anusarnsunthon School for the Deaf, Arunothai for Special Needs Project, Autistic Thai Foundation, Na Kittikun Foundation, and Sikkha Asia Foundation.

    “The ultimate goal is to culminate an empowering space, a creative showcase of their works and their talents, a place where products made by people, whose hearts know no boundaries, are connected to local consumers and visitors from across the globe,” said the spokesperson.

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  • 80 Percent of Thai Wealth Held Onshore

    80 Percent of Thai Wealth Held Onshore

    Lombard Odier is bullish about its onshore partnership strategy in Thailand, claiming that 80 percent of high net worth wealth remains onshore with local banks.

    The bank is bullish on Thailand’s wealth market, citing industry projections of 10-30 percent annual growth of high net worth individuals, depending on segmentation. Interestingly, the billionaire segment is expected to increase the fastest despite an ongoing U.S.-China trade war.

    Growth is here, said Lombard Odier’s APAC CEO Vincent Magnenat, who expressed optimism regarding the bank’s benefits from its four-year-old partnership with major Thai lender Kasikornbank (Kbank).

    Lombard Odier’s ventures into building onshore revenue lines have been supported not only by its investment capabilities but also through effective delivery to meet non-investment needs. According to Magnenat, the new generation of Thai entrepreneurs are increasingly demonstrating not only demand for professional investment management but also wealth planning and family or business governance needs.

    Perfect wealth comes from a combination of wealth and happiness; customers can live a worry-free lifestyle by easing their concerns in the areas of maintenance and succession of wealth, said Jirawat Supornpaibul, head of Kbank’s private banking group in a local media report.

    KBank’s private banking arm has assets under management of 760 billion Thai baht ($25 billion) with more than 11,000 clients and it estimates the latter to grow five percent annually.

  • Hoshino Coffee chains eye Asian expansion

    Hoshino Coffee chains eye Asian expansion

    Upmarket Japanese coffee businesses are expanding into other Asian markets in an attempt to win over customers from global leaders such as Starbucks.

    Specialty brands Sarutahiko Coffee and Hoshino Coffee are among those reaching into major Asian markets, with Sarutahiko entering Thailand and Hong Kong, and Hoshino moving to Taiwan.

    “Consumers who frequent Starbucks are ready to embrace Japanese-style service,” said president and CEO of Sarutahiko Tomoyuki Otsuka.

    Mitsubishi has taken a 15 percent holding of Sarutahiko for around 500 million yen ($4.6 million), with a view to expanding the brands’ network from the current 16 stores (including three in Taiwan) to 30 outlets.

    Hoshino Coffee already trades well in Singapore, Malaysia, and Indonesia and will launch in Taiwan in the next fiscal year.

  • Thai AirAsia ready for travel growth

    Thai AirAsia ready for travel growth

    Thai AirAsia and Thai AirAsia X’s businesses are expected to grow as projected this year, with passengers surpassing 23 million.

    Santisuk Klongchaiya, chief executive of Thai AirAsia, said passengers in the first half this year tallied 11.4 million, with a load factor at 87%. Passenger volume for the full year is expected to reach 23.2 million as planned, 5% growth, with a load factor of 85-86%.

    He said the most urgent issue for the airline is to regain trust from Chinese tourists after the fatal boat accident last year. The baht appreciation has also affected the Chinese market.

    Mr Santisuk said the airline plans to talk with the Tourism Authority of Thailand about creating a special campaign for the Chinese market. Thai AirAsia is also considering opening new routes in South Asia, such as Hyderabad, India and Kathmandu, Nepal, later this year. The airline plans to welcome two more Airbus A321 jets by the end of this year to replace retired aircraft, bringing Thai AirAsia’s fleet to 63.

    Nadda Buranasiri, chief executive of AirAsia X group and Thai AirAsia X, said the fleet for Thai AirAsia X will expand from nine to 14 as part of the plan to create a network in North Asia before moving to other regions.

    Thai AirAsia X, which operates long-haul routes, carried 1.5 million passengers in the first six months.

    Passenger numbers for the full year are projected at 3 million, with a load factor of 85%.

    There are some new routes planned in North Asia or Australia, and more frequencies expected to be added, said Mr Nadda.

    The airline has put off plans to add other long-haul routes to assess market demand after adding four flights a week on the new Airbus A330neo to Brisbane, Australia.

    Thai AirAsia and Thai AirAsia X are budget airlines partially owned by Malaysia’s AirAsia Group Berhad.

    Yesterday, Teleport (formerly known as Redcargo Logistics), a fully owned subsidiary air cargo company under AirAsia Group Berhad, signed a memorandum of understanding with Triple i Logistics to set up a joint venture company, Teleport Thailand.

    The new venture will start services at the beginning of next year.

    Pete Chareonwongsak, chief executive of Teleport, said it offers seamless same-day delivery in e-commerce for both domestic and 140 other destinations in the airline’s network, covering Asia and Australia, with cargo capacity from the 270 aircraft held by AirAsia and affiliated carriers.

    “Utilisation of the airline’s belly cargo is only 15%. We plan to use the remaining capacity to benefit small business operators, aiming to utilise cargo capacity of up to 50% within five years,” he said.

    The partnership will offer a new logistics business model differing from traditional airport-to-airport cargo movement, said Tipp Dalal, chief executive of Triple i Logistics.

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  • Philipp Plein opens second Bangkok Store

    Philipp Plein opens second Bangkok Store

    Fashion label Philipp Plein has launched its second location in Thailand.

    The new Bangkok store at IconSiam Mall follows the brand’s first outlet in Phuket, which opened in 2016. The opening is in line with Philipp Plein’s general expansion plans in the region, with a store having just opened in Singapore and another to follow in the Philippines later this year.

    The Bangkok store’s shopfront is designed in black marble featuring a giant Swarovski crystal skull.

    The store also displays a Murano skull chandelier, hexagonal tables and metallic displays.

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