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Tag: bangkok

  • Siam Piwat uses online media to connect shoppers and retailers

    Siam Piwat uses online media to connect shoppers and retailers

    Bangkok shopping mall operator Siam Piwat has launched new retail services to engage and support customers and retail tenants during social distancing.

    The new services include Call & Pick up, Eat at home and OneSiam Chat & Shop, which allow customers to shop online via live chat at OneSiam Line official accounts, shopping centers’ social media and OneSiam mobile application.

    “Amid the current situation, OneSiam has worked in line with the government’s attempts to cease the spread of Covid-19,” said Chanisa Kaewruen, senior deputy MD of Siam Piwat.

    With Call & Pick up service, loyalty program members can place orders for grocery shopping via phone and collect their groceries at the pick-up point. Meanwhile, the Eat at Home service allows customers to order food from more than 50 restaurants at Siam Paragon, Gourmet Garden, Paragon Food Hall and IconSiam.

    OneSiam Chat & Shop is the company’s new omnichannel service, providing live chat that connects customers with shopping advocates to make purchases on OneSiam’s Line account and its other social media channels.

    “Social media has been our major platform to communicate and keep our customers updated with interesting and relevant information,” said Suthida Maleipan, deputy MD at Siam Piwat. “This is in tune with our social commerce strategy and the Chat & Shop service is expected to increase customer engagement to over 25 million followers next year.”

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  • Thailand’s Central Pattana to waive the rent for retailers

    Thailand’s Central Pattana to waive the rent for retailers

    Thai retail property developer Central Pattana is to waive rent for tenants affected by the government’s shutdown order.

    The company said in a statement that it will waive the rent for tenants who have been ordered to shut by authorities and offer rent reductions ranging from 10 percent to 50 percent for stores that remain open.

    “We are confident that with complete cooperation from all parties we will overcome this challenge together,” said Precha Ekkunakul, president and CEO of Central Pattana. “We are ready to support every business to resume its normal operations and to help coordinate government aids for all sectors who have been affected during this crisis.”

    The company has also organized call centers, pick-up counters and drive-through pickup points to support its food-and-beverage partners and customers.

    Central Pattana said it plans to adjust its upcoming projects and is working on a plan to resume business operations after the crisis is resolved, in order to ensure its growth and return shareholders’ investment.

    Central Pattana has temporarily closed all of its 15 shopping centers in Bangkok and 13 out of 18 shopping centers in the provinces. Essential services including supermarkets, pharmacies and convenience stores remain open during the closure.

  • 7-Eleven Thailand recruits thousands delivery staff

    7-Eleven Thailand recruits thousands delivery staff

    Convenience-store chain 7-Eleven Thailand is recruiting 20,000 workers to make deliveries in the midst of the coronavirus outbreak.

    With many Thai nationals, visitors and residents confining themselves to home in the interests of social distancing, and malls and most shops and entertainment venues closed, 7-Eleven Thailand parent CP All has announced moves to increase delivery services to support those in isolation.

    New staff would be working deliveries from all 7-Eleven locations throughout the country.

    Those eligible for the employment opportunity must be over 18 and ideally have their own vehicles. The firm is accepting online applications for the positions.

    With more than 800 coronavirus cases and climbing, Bangkok has largely shut down its retail sector as department stores, bars, dine-in restaurants and outlets not trading in essential goods have been forced to shut for several weeks.

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  • Bangkok shopping centres, markets closed for three weeks

    Bangkok shopping centres, markets closed for three weeks

    Bangkok shopping centers and markets were effectively shut down yesterday as the city moved to slow the spread of coronavirus.

    According to a Thaiger report, the closures are in response to a Bangkok government edict to shutter all department stores and markets in the capital for three weeks in a move to slow down the spread of the current coronavirus outbreak.

    “All food stores and restaurants will be allowed to serve only take-home orders while hotel restaurants can serve only hotel guests,” read the official announcement. “The measure will take effect between March 22–April 12.”

    The announcement that Bangkok shopping centers must close was released as the number of confirmed Covid-19 cases in the Thai capital continued to rise. Nationwide there were 599 reported infections as at Monday morning, local time.

    Despite the retail closures, people in the city still have freedom of movement although social distancing is still recommended by the administration.

    Similar measures have been introduced in other international locations – including hard-hit Italy, which remains under national quarantine, Spain and New York City.

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  • Bonchon chicken in Thailand Planning Expansion

    Bonchon chicken in Thailand Planning Expansion

    Thai-headquartered Minor International has bought an effective 70-per-cent stake in the master-franchise rights holder of Bonchon chicken in Thailand.

    The deal sees Minor take controlling interests in Singapore’s Spoonful Pte and Spoonful Thailand, which will drive future expansion of the South Korean fried-chicken chain in Thailand. Minor paid US$79 million for the shares.

    The transaction leaves Mint as the effective operator of Bonchon chicken in Thailand and follows its $66 million purchase of Chicken Time last November, which at the time ran 40 outlets across Thailand. At the time of that deal the company said it was in the process of negotiating with Bonchon’s South Korean owners for the right to expand the network further.

    That pathway has been cleared and Mint says it now owns long-term exclusive territorial rights and the ability to expand and sub-franchise Bonchon chicken in Thailand. It plans to grow the store network to more than 150 restaurants throughout the country by the end of 2024, representing a five-year CAGR of more than 25 percent.

    “This latest investment in the master franchise rights of the Bonchon brand … emphasizes our strategy to enhance our portfolio offerings and further strengthen the restaurant business in Thailand,” said Minor Food CEO Paul Kenny.

    “With almost 10 years of presence in the country, Bonchon brings a highly loyal customer base of Thai millennials and Generation Z, which we will further build on.”

    The expansion strategy will focus on shopping centers and community malls, along with delivery-format stores to capture the fast-growing delivery market. With only two stores outside the nation’s capital of Bangkok currently, key cities in the regions will be targeted as well.

    During the first two months of this year, sales of Bonchon chicken in Thailand have proven resilient amidst the coronavirus crisis, supported by strong delivery sales.

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  • Central Retail to invest US$575 million on expansion this year

    Central Retail to invest US$575 million on expansion this year

    Thailand’s Central Retail Corporation achieved 8 percent revenue growth last year to US$7.1 billion and an 11-per-cent boost in profit to $394.7 million.

    CEO Yol Phokasub said the improvement reflected “robust platforms” in every country in which it operated: Thailand, Vietnam and Italy.

    “We increased market share in every product category, including fashion, food and hardlines, whilst we also grew our customer base in each market with our strong eco-systems,” he said.

    Central Retail is on track to achieve a five-year goal of achieving 8-10-per-cent average annual income growth and earnings growth of 10-11 percent.

    This year, Central Retail is investing $575 million into expanding its business in its three core markets, exclusive of mergers and acquisitions.

    In Thailand it plans to open three Robinson Lifestyle stores, seven Thai Watsadu stores and 3 Baan and Beyond stores, as well as expanding its food and specialty-store networks.

    In Vietnam it will open six supermarkets under the existing Big C banner and its new brand Go!

    It also plans to refurbish some existing stores and open more outlets under its LookKool, Kubo and SuperSports banners.

    In Italy, it will refurbish its department stores in Florence and Rome, and focus on leadership in the lifestyle-luxury segment of the market.

    “After many uncertainties in both the global and Thai economies this year, whether from the strong Baht, the COVID-19 epidemic, reduced tourist arrivals or declining consumer confidence, Central Retail must exercise caution in its business operations, closely monitor various issues and use technology to manage costs effectively,” said Phokasub.

    “Our multi-category and multi-format platforms give us flexibility and adaptability to rapidly changing and volatile situations. This offers us an advantage and a good opportunity to reach customers, providing them with new experiences through our robust omnichannel platforms.”

    Central Retail achieved sales growth online of about 56 percent last year.

    “This year, we forecast sales through the omnichannel platforms to account for over 10 percent of Central Retail’s sales,” he said.

  • Apple Thailand store set to open

    Apple Thailand store set to open

    Photos have been leaked on Twitter, offering a preview of Apple Thailand’s second store

    Located in front of Central World, the construction space was recently revealed after being boarded up and closed off to the public for more than a year.  The store’s glass walls are temporarily covered.

    The architectural plans of the second store were also leaked, featuring the interior layout.

    On the ground floors, tables are set up in a circle while shelves are placed along the walls.

    A winding staircase is located at the center, leading to the second floor where a big screen is installed for the Forum area.

    Apple Thailand’s first store was opened last November at the IconSiam shopping center in Bangkok.

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  • Samsung and BTS enter global marketing collaboration

    Samsung and BTS enter global marketing collaboration

    South Korean electronics giant Samsung and BTS the K-pop superband, have entered a global collaboration to market smartphones.

    Samsung will first work with BTS for the boy band’s global contemporary art initiative, “Connect, BTS,” before expanding their collaboration to other areas, according to the officials.

    Connect, BTS is a global initiative spearheaded in collaboration with curators from five major cities — London, Berlin, Buenos Aires, Seoul and New York — to connect people from across the world through art.

    The project was designed to dovetail with BTS’ philosophy that centers around diversity, love and ‘care for the periphery’.

    Samsung said it will support augmented reality (AR) docent service for the project, in which members of BTS appear and explain art pieces in a virtual system.

    The South Korean tech giant also installed a media facade with its Galaxy devices for the art project in Seoul and New York.

    Samsung and BTS did not disclose further details of the partnership, but industry insiders expect that the septet will participate in the company’s various promotion and marketing events regarding its new smartphones launched earlier this month.

    BTS member V was spotted at Samsung’s “Galaxy Unpacked 2020″ in San Francisco, where the company unveiled the new-generation 5G Galaxy S20 series and the Galaxy Z Flip smartphones.

    “We hope we can deliver a good experience to fans of BTS and Galaxy devices around the globe through collaboration with BTS,” a Samsung official said. “We are planning various activities other than ‘Connect BTS.’”

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  • More Headwinds for Bangkok’s Already Hollowing Condos

    More Headwinds for Bangkok’s Already Hollowing Condos

    There are an estimated 100,00 vacant condominiums in and around Thailand’s capital as a plunge in Chinese demand hits the property sector.

    Foreign buyers accounted for one-fifth of the Bangkok’s real estate purchases two years ago, according to estimate from local consultancy Agency for Real Estate Affairs, but the ongoing coronavirus outbreak is set to cut the figure in half. This is especially due to the fact that the majority of foreign demand is from Chinese buyers who are being hindered by travel curbs in addition to economic risks at home.

    The projections if materialized will further exacerbate damage being felt in Bangkok’s real estate market especially in the condominium segment where the consultancy estimates up there are up to 100,000 vacant units.

    In addition to the real estate sector, Thailand’s broader economy was already feeling the pressure in 2019 from a strengthening baht and an ongoing U.S.-China trade war. Gross domestic product growth is projected to grow as little as 1.5 percent in 2020 – a six-year low – according to the government.

    Local authorities are already rolling out measures to support the property market including loosened mortgage lending rules from the Bank of Thailand to encourage domestic purchases. Still, the outlook remains gloomy and a report citing an estimate by global real estate consultant Collier places the number of newly developed condo units at 6,000 in the first quarter of 2020, a 40 percent year-on-year drop.

    To date, the coronavirus outbreak has infected nearly 80,000 individuals with a kill count of 2,495.

  • Global franchise operators eye Thai growth

    Global franchise operators eye Thai growth

    Franchise brands from the US, France and China are eyeing opportunities in Thailand which has become a strong drawcard for offshore companies, according to consultants.

    Southeast Asian specialist VF Franchise Consulting is holding a franchise-business matching event in Bangkok next week, with local partner Gnosis which has drawn businesses keen to establish a presence in Thailand.

    Among the companies participating who are seeking local partners are retailers Ace Hardware, Delifrance and Little Caesars. Others include technology-focused language education company Qooco and Scholastic World of English.

    “Thailand continues to be of strong interest from our clients,” said Sean T Ngo, CEO of VF Franchise Consulting. “Whether it is food and beverage, education, retail, fashion or services, all of these sectors are attractive in the Thai market.”

    Ngo says the key to succeeding in Thailand’s ultra-competitive market is offering clear and sustainable value and differentiation.

    “We believe the brands that we are taking to Thailand fit that extremely well as they are all leaders in their respective franchise segments.”

    On February 25 in Bangkok, some of the franchisor executives from the brands will meet one-on-one with invited franchisees and investors.

    US-based Little Caesars Pizza is the world’s third-largest pizza franchise and now operates in 26 countries, including Singapore and the Philippines.

    Delifrance is the world’s largest French bakery and cafe chain and has more than 400 stores serving millions of customers in 15 countries across the globe.

    Ace Hardware is the largest home-improvement franchise in the world with more than 5300 stores worldwide, including more than 200 stores in the Philippines and nearly 200 stores in Indonesia.

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  • Great Wall Motor To Purchase GM’s Thailand Manufacturing Plant

    Great Wall Motor To Purchase GM’s Thailand Manufacturing Plant

    Great Wall Motor announced that it has signed an agreement for the purchase of General Motors’ manufacturing facility in Rayong, Thailand. This announcement is subject to government and regulatory approvals. Under a signed binding term sheet, GM Thailand and GM Powertrain Thailand legal entities, which include the Rayong vehicle assembly and powertrain facilities, will transfer to GWM. GM and GWM are targeting the end of 2020 to close the deal and hand over the site.

    The acquisition of GM’s Thai Rayong plant will help the business development of Great Wall Motor in Thailand and the ASEAN market. Great Wall Motor will expand through the entire ASEAN region with Thailand as the center, and export its products to other ASEAN countries as well as Australia. Great Wall Motors’ investment will create more jobs in the local area, including direct and indirect employment and further enhance skill development in the automotive industry. GWM will also promote the development of the local supply chain, R&D and related industries, plus contribute more to the exchequer of both the local Rayong and Thailand governments.

    Parker Shi, Vice President, GWM India said, “This agreement marks an important milestone in the overall scheme of things for Great Wall Motor in the ASEAN Region and is a testimony of our global expansion strategy that is now focused on South East Asia including India.”

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  • Bangkok’s Chatuchak mall opens in Singapore

    Bangkok’s Chatuchak mall opens in Singapore

    Bangkok’s world-famous Chatuchak Market has launched a satellite site in Singapore.

    A 40,000sqft pop-up market located at The Grandstand on Turf Club Road, it marks the first time Chatuchak has been convened outside of Thailand.

    The market opened this week and will remain trading until May 3.

    More than 400 vendors are trading at the market, some rotated in from the original open-air market in Thailand.

    While Bangkok’s market is only open during weekends, Chatuchak Singapore will trade from 4.30 pm to 10.30 pm every day except Monday.

    Thai street food is being sold at the market for visitors seeking an authentic Chatuchak experience – while apparel, accessories and jewelry are among the goods on offer at stalls.

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  • NokScoot soars to new heights for punctuality

    NokScoot soars to new heights for punctuality

    NokScoot, the joint venture low-cost carrier of Thailand’s Nok Air and Singapore’s Scoot, achieved its best-ever annual on-time performance (OTP) since the start of operation with an average of 86.55% in 2019.

    The airline’s 2019 punctuality report revealed that the airline obtained its highest OTP on record even though the flights flown increased by 30% or 1,162 flights. Last year alone, it operated 4,951 flights, an increased from 3,789 flights flown in 2018. During the busiest month of 2019 in December, it earned a perfect 100% OTP for both, Tokyo Narita International Airport in Japan and Qingdao International Airport in China.

    “At NokScoot, we always work hard in order to offer the best services and provide an enjoyable flying experience to our passengers.” said Yodchai Sudhidhanakul, CEO of NokScoot. “OTP is crucial and has always been one of our five core values, ‘Consistently Deliver’. We are committed to maintain and enhance the highest standard in every aspect, including punctuality, safety and convenience.”

    The carrier currently flies from Bangkok to nine destinations in East Asia and India, including Nanjing, Qingdao, Shenyang, Tianjin, Taipei, Tokyo, Sapporo, Osaka, and New Delhi.

  • Nok Air suspends Guwahati-Bangkok flights from January 20

    Nok Air suspends Guwahati-Bangkok flights from January 20

    As per reports, Nok Air is expected to resume its operations from April 12, 2020.

    The airline has cited ‘operational reasons’ behind its decision to suspend the flights.

    Nok Air, which is a subsidiary of Thai Airways International, had operated its flights in the Guwahati-Bangkok route twice a week.

    It may be mentioned that Nok Air, which had started its flight operations from Guwahati to Bangkok in September last year, had suspended its operations just four months after airline SpiceJet has suspended the Guwahati-Dhaka direct flight service.

    The reason behind the suspension of the ambitious Guwahati-Dhaka flight service was due to not getting the desired number of passengers.

    Due to poor business operations of the flight service, SpiceJet had first reduced the frequency of the flight service from daily to twice a week.

    However, the new outcome of the flight service still being poor, SpiceJet had finally decided to suspend its operations.

    At present, only two international flights would remain operational from the Guwahati airport and that is Druk Airlines’ flights from Guwahati to Singapore and Guwahati to Paro.

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  • Analysts Downgrade Thailand’s Oldest Banks

    Analysts Downgrade Thailand’s Oldest Banks

    Siam Commercial Bank, one of Southeast Asia’s largest lenders, has prompted cuts from analysts on concerns of its loan book.

    After the bank reported its fourth-quarter results, nearly a third of the analysts who cover the Thai bank cut their recommendations the past week, wiping out nearly $2 billion from its market value. Asia Plus, Credit Suisse and J.P. Morgan Chase were among the brokerages that cut ratings.

    Thailand’s economy in 2020 is still surrounded by negative factors. Asset quality is still at risk and needs to be watched closely. said Therdsak Thaveeteeratham, an analyst at Asia Plus Securities.

    Siam Commercial and other Thai lenders have closed branches while increasing digital banking in an effort to boost earnings. However, a struggling economy has increased bad loans at the bank, which is more than a century old and counts King Maha Vajiralongkorn as its biggest shareholder.

    Siam Commercial’s shares posted their biggest one-day decline since 2008 on January 20, the first trading day after the fourth-quarter earnings report showed a jump in bad-loan provisions.

    Still, the downgrades and reaction may be overdone as Siam Commercial raised loan-loss provisions in 2019, according to Diksha Gera, a Bloomberg Intelligence analyst. The bank may consider boosting the net interest margin and cut costs to counter weak revenue, she said.

    The bigger risk we see is potential M&A following recent moves of other local competitors such as Bangkok Bank to make acquisitions, she notes.

    Bangkok Bank last month announced that it would acquire a controlling stake in Indonesia’s PT Bank Permata for about $2.7 billion to expand its presence in Southeast Asia’s biggest economy.a