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Tag: bangkok

  • Yum China eyes Thailand with A Fresh Hotpot Concept

    Yum China eyes Thailand with A Fresh Hotpot Concept

    Yum China looks to expand Asian footprint for hot-pot restaurant brand.

    Quick-service restaurant firm Yum China Holdings is seeking entry into the Thai hotpot market, reportedly worth THB5 billion (US$156.7 million).

    The company is seeking a local partner to launch its Little Sheep Mongolian hotpot chain in the territory.

    “The food and beverage industry in Thailand is one of the most developed markets in the world,” said Yum’s senior specialist for franchise development Isa Jiang. “Thailand also has a rich history of hotpots, as well as food culture.”

    Sixty-six Little Sheep outlets opened in China last year, as well as a further 10 abroad. Seventy of the openings were franchised. The restaurant is currently operated in 300 locations across 130 cities.

    “Ma la, or Sichuan hot chillies, is growing in popularity with Thais,” said business advisory firm Gnosis MD Sethaphong Phadungpisuth, “and we believe that Little Sheep will fit well with Thai tastes.”

    “Southeast Asia and the US have the highest projections for expansion this year,” observed Jiang. “We are focusing on Malaysia, the Philippines and Indonesia. Shabu restaurants are quite popular in Thailand, but we are confident in our key product’s characteristics, especially our meat and broth.”

  • Another Bangkok riverside mall in Development

    Another Bangkok riverside mall in Development

    Another Bangkok riverside mall is in the early stages of planning after the Port Authority of Thailand (PAT) said it will develop Klong Toey land it no longer needs.

    The land is located at the Klong Toey port, not far from Bangkok’s CBD where the authority currently has about 900 rai 1.44 million sqm. PAT says it plans to use only about half that area in the future and will hand the balance over to a developer to create a landmark on the Chao Phraya River.

    The 400 rai which has become available will house retail space, a business centre and other commercial space, according to PAT director-general Kamolsak Promprayoon.

    “It will be something like IconSiam,” he said. “The format will basically be a large business city with the goal of becoming a new landmark and tourism centre in the capital that offers convenient links to river-based tourism.”

    A private company has been appointed to conduct a feasibility study on the plan.

    Meanwhile, the Thai government is preparing to progressively evict about 12,500 families who are illegally occupying a nearby area, commonly referred to as the Klong Toey Slum. According to the Bangkok Post, the government has allocated four 25-storey apartment buildings to house the people in 6144 apartments, measuring just 33sqm each.

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  • Online food store Grain Expanding Rapidly

    Online food store Grain Expanding Rapidly

    Singapore-based online food store Grain has raised US$10 million in series B funding. The cash will be used to accelerate growth in Singapore, and expand into Thailand.

    To do that, the company will be cooperating with Thailand’s Boonrawd Brewery group’s subsidiary Singha Corporation.

    Singha will help Grain gain clearer insights into the target audience in Bangkok, and develop better products and services.

    “Grain will work with Singha by using Singha’s extensive F&B network across the country, including logistics and distribution, to bring delightful innovations to consumers,” said Bhurit Bhirombhakdi, chairman of the executive board at Singha Ventures.

    The collaboration between the two companies aims to help online food store Grain expand in Southeast Asia and realize its regional vision.

    “We want to disrupt the F&B landscape and evolve with consumer preferences, but also have solid fundamentals,” said Yi Sung Yong, Grain’s co-founder and CEO.

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  • Thai AirAsia parent Q1 operating profit halves

    Thai AirAsia parent Q1 operating profit halves

    Revenue for the quarter ended 31 March was flat at Bt11.6 billion, but expenses rose 10% to Bt10.5 billion. Net profit fell 50% to Bt497million. The company says that fuel costs rose during the quarter, as did airport and MRO costs. Despite this, the carrier’s CASK was flat compared with a year ago at Bt1.53 due to a 10% increase in ASKs and a longer average stage length.

    RPKs grew 9%, while load factor was flat at 91%. The carrier’s average fare for the first quarter was Bt1554, down 7%.b Cash and cash equivalents were Bt4.1 billion on 31 March, down from Bt5.97 billion a year earlier.

    In its outlook, the carrier notes that international trade frictions could hurt the global economy and affect exchange rates.

    “As the company has revenues and expenses in various different currencies such as passenger fares, repair, and maintenance as well as aircraft rental, the company has adopted the practice of natural hedging by matching cash expenses and revenues in the same currency as practically possible,” it says.

    It believes that global crude prices could fall in the second half of the year, but has hedged 52% of its 2019 fuel conception at cost of $80 per barrel.

    It adds that Thailand’s tourism industry will remain strong in 2019. It plans to add new routes later this year from Bangkok Don Mueang to new Vietnam destinations such as Can Tho and Nha Trang, as well as the addition of a Chiang Mai-Da Nang service.

    It plans two Cambodia services, Bangkok Don Mueang-Sihanoukville, and Phuket-Phnom Penh. In addition, it will add a Bangkok Don Mueang-Ahmedabad service.

    “This diversified strategy tends to minimize the risk of dependence on the major customer base, enhancing the company and Thai AirAsia’s sustainable revenue growth in the future and maintain its leading low-fare airline in Thailand,” it says.“In 2019, Thai AirAsiamaintains a target of 23.15 million passengers, with a solid load factor at 86%, and plans to acquire more energy efficient aircraft during the year to bring its fleet to 63 aircraft.”

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  • Thailand acquisition boosts BreadTalk Turn Over

    Thailand acquisition boosts BreadTalk Turn Over

    Singapore’s BreadTalk Group has reported a year-on-year revenue increase of 6.1 percent to S$157.6 million (US$115.56 million) for its first financial quarter this year.

    The group’s net profit increased by 11.5 percent to $1.3 million over the period. Sales at BreadTalk’s bakery division rose 2.3 percent to $72 million ($52.8 million) during the first quarter with the consolidation of revenue from its Thailand bakery business, following the acquisition of the 50 percent interest in BTM from Minor Food Group. Excluding that, revenue would have been lower by 5.7 percent year on year, due to lower revenue from the directly operated stores in Beijing and the franchise business in China, partly offset by stronger revenue by the directly operated Singapore stores.

    The consolidation of the Thailand business added 47 BreadTalk outlets to the group’s direct operated store count.

    “Last year was a year of milestones for us,” said group CEO Henry Chu. “We expanded into new markets such as London with Din Tai Fung and brought our joint-venture partners Song Fa Holdings and Wu Pao Chun Food into strategic markets such as China and Singapore respectively.“With the new partnerships, we laid the foundations to diversify our business portfolio so as to achieve sustainable growth for the group.

    In addition, we embarked on efforts to increase our central kitchen production facilities in China and Thailand. The 6.1 percent increase in group revenue show that these efforts are starting to pay off,” he said.

    “Looking forward, we will continue to strengthen our presence of existing brands in key markets. We will continue to develop in talent development and the setup of our third regional office in Bangkok as we position ourselves for growth in Thailand and greater Mekong-region markets.”

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  • Takashimaya After Opportunities in South East Asia

    Takashimaya After Opportunities in South East Asia

    Three Southeast Asian countries are on Japanese department store operator’s radar. Takashimaya says it is evaluating opportunities to open department stores in the Philippines, Malaysia and Indonesia.

    However, in an interview, Takashimaya’s president Yoshio Murata said while new stores in those markets could be an option, the company’s priority now is to focus on “raising the profitability of the four stores” it already has in Southeast Asia and China.

    Takashimaya opened a store in the IconSiam development in Bangkok late last year, adding to stores it already had in Shanghai, Singapore and Ho Chi Minh City.

    In May last year, it was reported that just one of its overseas stores was then trading at a profit – the Singapore flagship on Orchard Road. But the company said it believed it could make them all profitable by 2023, including the Bangkok one.

    This week, Murata said the company plans to strengthen its overseas operations and sees an opportunity for growth in Southeast Asia, in particular.

    Additional locations “are entirely possible,” he said, so long as there were good locations available.

    The company is facing problems in its home market where an aging population and declining birth rate are making business growth a challenge.

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  • Allianz Completes Strategic Partnership Deal in Thailand

    Allianz Completes Strategic Partnership Deal in Thailand

    Firm expands partnership with Sri Ayudhya Capital to enhance local market presence and accelerate growth in Thailand. Allianz has acquired a 19.21-percent stake in Thailand’s Sri Ayudhya Capital (AUYD) to become its largest shareholder, the German insurer and asset manager announced in a press release.

    As part of the deal, Allianz General Insurance will be renamed Allianz Ayudhya Capital and its subsidiary Sri Ayudhya General Insurance will be renamed Allianz Ayudhya General Insurance. The merger will ensure a stronger insurance franchise focused on meeting the diverse and growing protection needs of local customers and enhancing the Allianz proposition in the region the press release said.

    Today represents an important milestone for Allianz’s growth ambitions in Thailand and the wider region.  The closer relationship between both businesses will increase collaboration and expertise, and deliver an improved customer proposition in the country.  These moves reflect the strategic efforts we are making across Asia and we look ahead with confidence, Allianz Asia Pacific deputy regional CEO Solmaz Altin said.

    Thailand is an important and strategic market for Allianz Asia, with strong potential due to its low insurance penetration as well as robust macroeconomic prospects, Allianz said. Allianz and AYUD’s partnership goes back almost 20 years and currently serves more than 1 million customers across the country.

    Veraphan Teepsuwan remains as Chairman of Allianz Ayudhya Capital, while Bryan Smith, President & CEO of Allianz Ayudhya Assurance (the life insurance business), has assumed the role of President & CEO, Allianz Ayudhya Capital and the newly created position of Country Manager, Allianz Thailand. Lars Heibutzki was appointed President & CEO of Allianz Ayudhya General Insurance.

    Allianz made a tender offer to buy 56.93 million AYUD shares at 53.32 baht ($1.66) each, totaling 3.04 billion baht ($95 million).

  • Thai Airways celebrates 59 years of operations

    Thai Airways celebrates 59 years of operations

    Thai Airways International has recognized the airlines’ long-serving staff with certificates at a ceremony to mark the 59th anniversary.

    Thai Airways president, Sumeth Damrongchaitham, presided over a ceremony to present certificates and souvenirs to staff who have completed 35 years and 25 years of service with the national airline.

    The certificates were also given to staff who were commended by customers, and staff who made a significant contribution to the airline’s success over the years.

    Thai conducts the ceremony annually to mark the anniversary of its establishment on March 29, 1960.

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  • UOB Launches Comparison Website for Utilities

    UOB Launches Comparison Website for Utilities

    United Overseas Bank on Monday launched Singapore’s first online utility marketplace by a bank, as part of the Open Electricity Market initiative. United Overseas Bank (UOB)’s utility marketplace will add to an existing array of comparison websites under Singapore’s Open Electricity Market initiative by the Energy Market Authority. Featuring 10 utility providers on a single website, customers can now search and sign up for the best deals for electricity, gas, water, broadband and TV services.

    With utility bills making up an average of about 10 percent of monthly household expenses, we want to help people stretch their household budget, said Jacquelyn Tan, UOB’s head of personal financial services Singapore in a media statement.

    With more than 50 different plans offered by electricity retailers under the Open Electricity Market rollout, Singapore consumers could find it time-consuming to find the right electricity plan.

    The UOB Utility Marketplace aims to make it easy for consumers to compare providers and plans through its Electricity Price Plan Recommender. Users simply need to indicate if they prefer a fixed price or discounted price plan, their preferred subscription tenure, and their monthly electricity bill budget.

    A list of suitable electricity plans and potential savings will then be generated based on their selection. Consumers are then directed to the electricity partner’s website to sign up for their plan of choice. In all, the process takes less than 10 minutes to complete, the bank said.

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  • Julius Baer Starts to Serve Thai Wealthy Individuals

    Julius Baer Starts to Serve Thai Wealthy Individuals

    The Siam Commercial Bank (SCB), the first commercial bank in Thailand, and Julius Baer, the leading Swiss wealth management group and one of the four largest private banks in Asia, announced on Thursday that their joint venture company, SCB Julius Baer, has received the necessary approvals and licenses to operate in Thailand, beginning with over 50 dedicated professionals.

    SCB Julius Baer will focus on bringing best-in-class global wealth management capabilities to clients in the growing Thai wealth management market.

    Jiralawan Tangitvet joins as Chief Executive Officer to lead SCB Julius Baer. A seasoned investment specialist with over two decades of experience, both in the buy- and sell-side in the financial industry, Jiralawan has a track record of helping clients build investment strategies tailored to their financial goals as well as design business plans that accelerate growth and opportunities. Prior to joining SCB Julius Baer, she was most recently Managing Director at Kasikorn Securities.

    «We are delighted that Jiralawan has been appointed to lead this important joint venture in Thailand. Her extensive experience combined with Julius Baer and SCB’s capabilities provide our clients with a unique value proposition in Thailand,» said Jimmy Lee, Member of the Executive Board and Head Asia Pacific, Julius Baer.

    Over the last few months, concrete steps have been taken and key personnel has been hired with the leadership experience and expertise in Thailand to advise clients regarding their wealth management and wealth planning needs. Julius Baer’s international expertise and SCB’s on-the-ground experience form the foundation of these training and development programmes.

    «SCB’s strong brand name in Thailand provides the joint venture with a home-court advantage while Julius Baer contributes its comprehensive investment and advisory solutions built on global best-in-class expertise. Together, we have a winning formula for our clients in Thailand,» said Christian Cappelli, Market Head Emerging Asia, Julius Baer.

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  • NEXT BLOCK ASIA + Fabulous Bangkok After-Party

    NEXT BLOCK ASIA + Fabulous Bangkok After-Party

    Bangkok, Thailand will host the 2-day NEXT BLOCK ASIA “Beyond Crypto” by Krypton Events and CoinAdvice on 25-26 June 2019 at the W Hotel. The conference will bring together experts from CRYPTO and BEYOND, combining the best of Blockchain, CFD and Affiliates with the next generation of traditional finance.

    Bringing together 750+ participants and 45+ distinguished speakers, investors & startups, the Conference will be devoted to shared fields and common grounds of the crypto universe and traditional finance. With the umbrella topic of the conference “Beyond Crypto” the participants will discuss the best of both worlds and how to move the industries from denial and antagonism to cooperation and mutually beneficial coexistence. As a good tradition, the event will be celebrated by a luxurious After-Party by NEXT BLOCK ASIA.

    June 27 take a unique opportunity to explore different faces of Bangkok while building connections and enjoying an award-winning 5-hour bicycle & boat tour joining NEXT BLOCK ASIA Cultural Day with an award-winning Co van Kessel!

    On top, we will host a Private Investors Pre-Party a day before the event, where investors will be able to network, discuss, find co-investors, meet best startups – all while enjoying refined drinks and buffet.

    • A sneak-peak of the confirmed speakers:
    • Giacomo Arcaro, №1 European ICO Growth Hacker, ICO STO Advisor, University Professor,
    • Herbert R. Sim, TheBitcoinMan, Broctagon FinTech Group,
    • Tal Itzhak Ron, Chairman and CEO – Tal Ron, Drihem & Co. with the presentation “Emergency Briefing regarding Visa and Mastercard new legal opinion requirements and solutions (Crypto, CFD, FX)”,
    • Stefania Barbaglio, Disruptor, Entrepreneur, Investor, PR Marketing Guru, Blockchain Strategist and Advisor,Dato Steve Cheah, President at Global Entrepreneurship Network (Thailand),
    • Topp Jirayut Srupsrisopa, Co-founder & CEO at Bitkub Capital Group Holdings Co., Ltd Board of Director at Thai Fintech Association,
    • Neha Mehta, Founder of FemTech Partners,
    • Chris Ziomkowski, Founder at XTend Online,
    • Ralph Liu, Founder and CEO, MuleChain, Inc.
    • Eran Tirer, Founder & CEO, Ledgertech AG

    Check next-block.org for the event’s agenda and attending speakers. If you want to know what to expect, take a look at our highlights from recent events in Sofia, Tel Aviv and Kiev.

    Present your company in the EXPO ZONE and/or from the main stage – we facilitate promising ventures in getting a great audience.

    To get a ticket, sign up for presenting your project, becoming a sponsored or a media partner, visit our site at next-block.org.

    To follow the conversation and deepen engagement with us and participants please join our Facebook event.

    Media contacts: Heena Gupta [email protected], +91 965 439 47 97
    Svitlana Kokarieva [email protected], +38 063 213 12 12

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  • AirAsia becomes Brisbane Broncos Official Airline

    AirAsia becomes Brisbane Broncos Official Airline

    AirAsia has formalised a deal to become the Brisbane Broncos’ official airline, along with promotions held at every Broncos home game and special discounts for fans.

    The deal is centred around the launch of the new ‘The Buck Stops Here’ campaign, to celebrate AirAsia the airline’s new services from Brisbane to Bangkok, which are set to commence on 26 June.

    AirAsia Group Head of Branding, Rudy Khaw, said AirAsia is excited to partner with the Brisbane Broncos.

    “We are thrilled to partner with Queensland’s number one sports team, and National Rugby League favourites, the Brisbane Broncos.

    “Queensland is an integral part of our Australian network, and since commencing flights to the Gold Coast in November 2007, we’ve flown more than 2 million passengers through the sunshine state,” Mr Khaw said.

    “Our new services from Brisbane will soon become the most affordable and convenient way to travel to Thailand’s capital, and with the help of the Brisbane Broncos, we hope to see demand for these new flights grow even more.”

    As part of the partnership, AirAsia will run events and giveaways at Brisbane Broncos home games over the 2019 NRL season, as well as provide fans advanced notice on AirAsia promotional offers.

    Brisbane Broncos CEO, Paul White, said the partnership reflects a shared culture for both organisations.

    “Our partnership with AirAsia reflects a shared culture of delivering a fantastic experience at exceptional value for fans, whether it’s a night at the footy or choosing your next holiday.

    “The Broncos look forward to seeing how the beloved Buck is made part of this exciting plan to further enhance the fan experience and showcase AirAsia and their exciting destinations,” Mr White said.

    The deal, which was announced during the Broncos home game against the West Tigers at Suncorp Stadium last night, has already seen one fan receive return flights for two to Bangkok, Thailand.

  • Nok Air to cease flights to Nan

    Nok Air to cease flights to Nan

    Nok Air will end flights between Bangkok and Nan from April 18, leaving the province scrambling to convince another airline to take up the service.

    Nan airport general manager Ruangyuth Nittayanon announced on Thursday the airport had been advised by the budget airline of its decision to stop flying the route from April 18, after more than one year in operation. Nok Air did not explain the reason, he added. A check showed its website no longer allows bookings for Nan flights from April 18. Ticket prices to the province are shown only until April 17.

    The no-frills airline currently has two daily flights between Don Mueang and Nan. Terminating the service  leaves Thai AirAsia the only airline linking the capital and the northern province. Nok Air is operating at a loss and its financial situation is being closely watched by the Civil Aviation Authority of Thailand.
    Mr Ruangyuth said the airport had contacted the Airports Department to approach other airlines to fly to Nan to reduce the impacts on air travellers, tourism and business. He named Bangkok Airways and Thai Vietjet as possible options.

    With Thai AirAsia to be the lone airline on the route, the airport chief was concerned about the possibility of higher fares due to the lack of competition.
    The province and business operators in Nan will hold a meeting to approach other airlines to replace Nok Air when it ends the service, with the last flights on April 17.

  • AirAsia to Launch Flights Between Bangkok and Ahmedabad

    AirAsia to Launch Flights Between Bangkok and Ahmedabad

    AirAsia is to launch flights between Bangkok and Ahmedabad, the capital of Gujarat state and India’s first UNESCO World Heritage City. The airline will operate the route four times per week on Mondays, Wednesdays, Fridays and Sundays, from 31 May 2019.

    AirAsia Thailand CEO, Santisuk Klongchaiya, said, “India is a strategic market that is fast becoming an important contributor of inbound tourists for AirAsia Thailand. To fully leverage on this, we plan to regularly introduce routes connecting the two countries, focusing particularly on India’s burgeoning metros. Thailand’s own worldwide fame for hospitality should attract travellers from Ahmedabad, which is the capital of Gujarat state and India’s fifth most populous city.”

    According to Thailand’s Ministry of Tourism and Sports, Thailand welcomed 1.5 million Indian visitors in 2018, up 12% on the previous year.

    Thai AirAsia has recorded a load factor of up to 87% on its India routes, with passengers travelling between Bangkok and existing destinations in India increasing 7% year-on-year. Indian nationals made up 85% of passengers on those routes.

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  • Thai telcos fear excessive costs from new cable policy

    Thai telcos fear excessive costs from new cable policy

    The Telecommunications Association of Thailand (TCT), the industry body representing Thailand’s major operators, has argued that the policy will impose excessive costs on telecommunications service providers and may prove to be impractical.

    The association is urging the government to subsidize construction costs for the underground pipelines that would hold the currently overhead cables, and has suggested that operators would be willing to pay “reasonable” rental fees for this passive infrastructure.

    But as it stands, the association has stated that it is concerned that operators would be required to pay rental fees for underground pipelines that are up to 100 times higher than the current price paid for using overhead poles – nearly 20,000 baht per kilometer per month, compared to around 200 to 300 baht for per kilometer per month for overhead poles.

    Meanwhile the association has also proposed an alternative model involving using a combination of underground pipes and overhead poles that in some cases could use tubing that can group all cables together.

    This would help the government achieve its goal of helping to beautify the city while being a more affordable option to locating all cables underground.

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