Retail News CRM

Tag: bangkok

  • Thai tourism officials expect 10 percent growth in 2017

    Thai tourism officials expect 10 percent growth in 2017

    Thailand received a record 32.59 million foreign visitors last year, with revenue beating expectations and likely to exceed previous forecasts this year by growing 10 percent or more, officials said Monday.

    Thailand is proving popular even as terror scares, including a series of bombings in resorts towns killing four people, and the death of King Bhumibol Adulyadej had hotels and tour guides across the country on edge. Tourism fared better than expected after a bloodless coup deposed Thailand’s elected government in 2014 as well.

    The Tourism Authority of Thailand said Monday that the tourist industry earned 2.52 trillion baht ($71.4 billion) last year, up 11 percent from 2015.

    It said the country’s tourism industry is projected to bring in 733 billion baht ($20.8 billion) in the first quarter of this year, up 8 percent from the first quarter of 2016. Officials said their estimates, covering foreign and domestic tourists combined, indicate tourism revenue for all of 2017 may surpass earlier forecasts of 2.77 trillion baht ($78.5 billion).

    Thailand is the eleventh most-visited country in the world and boasted the sixth largest tourism industry by revenue in 2015, according to a U.N. report. Most travelers come from China, South Korea, and Japan, lured by Thailand’s year-round warm weather, as well as Western countries and Thailand’s neighbors in Southeast Asia.

    Foreign tourists are by far the most lucrative for the economy. Foreign arrivals are projected to total 9.3 million in the first quarter of this year, accounting for 490 billion baht ($13.9 billion) in revenue. In the same period, some 32.5 million Thai travelers accounted for 240 billion baht ($6.8 billion).

    “Thailand is still a popular destination,” Yuthasak Supasorn, governor of the Tourism Authority of Thailand, said at a news conference. “We have a lot of different things to offer our foreign visitors.”

    A steady economy and a growing number of travelers worldwide explain the boom, Yuthasak said.

    “Stability and improvements in the economy mean more foreign tourist arrivals,” he said. “So there’s clearly demand, and it’s up to us to accommodate everyone who wants to come.”

  • Services as a New Driver of Growth for Thailand

    Services as a New Driver of Growth for Thailand

    There’s a good chance you work in the service sector. Services account for 17 million jobs in Thailand, or approximately 40 percent of the Thai labor force. Service encompasses diverse industries such as tourism, retail, health, communications, and transportation, and many sought-after professions in architecture, engineering, law and medicine, for example. Many Thai parents aspire for their children to join the service sector, which carries many of Thailand’s economic hopes and ambitions.

    Industries that are likely to be important in the future such as medical and wellness tourism as well as logistics and aviation are in the service sector. Other key industries like robotics, food for the future and smart electronics will depend on services for critical inputs. Education services will also provide the training and skills necessary for any modern and innovative economy.

    Why do services matter for the Thai economy? A dynamic and growing service sector can become a critical engine of growth for Thailand. Advanced economies like the U.S. and the Euro area are dominated by the service sector, which makes up more than 70-80 percent of  GDP. Much of the value—even of manufactured goods—is derived from support services rather than manufacture itself. For example, approximately two-thirds of the value-added of smartphones, such as the Apple iPhone or Nokia N95, stem from internal support services, licenses, retailing, distribution and operating profit. Assembly accounts for less than 10 percent of their value.

    Even the value-added of a typical jacket made in China and sold in the U.S. is accounted for largely by invisible assets such as services, intellectual property and profits. While developing Asia accounts for most of the world’s manufacturing and assembly needs, most of the benefits go to service providers based in advanced economies.

    How does Thailand’s service sector fare? Thailand’s service sector share has remained static at approximately 50 percent over the last two decades. It is dominated by lower-productivity industries employing lower-skilled workers, and a low share of service exports which tend to be in ‘traditional’ sectors. Thailand has not shown sustained increase in the share of the service sector observed in ASEAN and non-ASEAN peers as well as in advanced economies. For example, China’s service sector as a share of GDP is growing rapidly and is close to catching up with Thailand.

    How can the potential of the service sector be unleashed? A number of examples from ASEAN countries highlight how a combination of private sector initiative and government support to enable businesses and monitor quality standards can increase service output and exports. For example, financial services in Singapore, higher education in Malaysia, health services in Thailand, and telecommunications-based services in the Philippines.

    Thailand’s commitment to structural reforms can unleash the potential of its service sector and lift income levels.

    For Thailand, a supportive regulatory environment for doing business, reduced policy restrictiveness both at the border and behind the border, greater competition and deeper trade integration through, for example, implementation of the ASEAN Economic Community commitments will be critical for fostering productivity growth and innovation, particularly in services. In addition, addressing skill gaps and ensuring quality education for all are also important for ensuring worker readiness.

    A global World Bank study finds that Thailand has a more restricted service market on average compared to ASEAN peers and other regions in the world, particularly in professional services such as accounting, legal, architecture, engineering and management consulting. For example, a dentist from the Philippines would have to take an exam in Thai to practice in Thailand.

    While Thailand has reaped the benefits of past liberalization in manufacturing, merchandise trade and imports of capital with tariff rates coming down from 40 percent in the 1980s to 9 percent in 2006, liberalization failed to encompass the whole economy. Many services, state enterprises and domestically oriented industries remained relatively sheltered from competition.

    For instance, foreign entry and investment into many of the service sectors, as well as delivery of some services by foreign firms, are restricted. Education and health facilities, for example, are required to be majority Thai-owned. In the financial services sector, liberalization has made progress despite apparently restrictive laws. Most, if not all, commercial banks are majority foreign-owned, but not necessarily foreign-controlled. So far, two foreign bank licenses for both wholesale and retail have been granted.

    Thailand’s economic growth is expected to attain 3.2 percent in 2017, from 2.8 percent in 2015. While there will be external challenges from more uncertain global economic prospects, Thailand’s continued commitment to structural reforms can unleash the potential of the service sector and lift Thailand’s long-term growth path above 4 percent per year and take the country from upper-middle to high-income levels.

    Thailand’s economy is on track to recovery, and further strengthening the service sector will help create new and better jobs, higher incomes and more opportunities for Thai people.  And who knows, perhaps you could be the next Jack Ma or Tony Fernandes.

    Lees ook:

    Lees ook:

  • Thai e-commerce sector expected to expand by 20 per cent this year

    Thai e-commerce sector expected to expand by 20 per cent this year

    The bullish forecast came as it was revealed the Southeast Asia e-commerce market in 2015 was worth US$900 million (Bt31.7 billion) and is forecast to grow up to 16 times that figure – about $11 billion – by 2025.

    Worawoot Ounjai, chief executive of Central Online, said that the e-commerce market in Thailand would grow more than 15 per cent this year because more consumers would shop online.

    He said only about 3 per cent of Thai consumers currently shopped online, so there was obviously massive growth potential for the market. While the e-commerce ecosystem, such as online payment transaction fees, Internet broadband and logistic, were changing dynamically, he said.

    He added that the use of e-wallets via mobiles and the convenience of online payments would drive more consumers to shop online.

    Only 1 per cent of Central Group’s retail revenue last year came from online.

    Worawoot said an e-commerce marketplace platform would with the next couple of months be provided for all shops in the Central Group and all shops that rent space at Central department store.

    Central will also invest over Bt1 billion in warehouses to support its online business and use of robot management, he said.

    “I think that online shopping will be a big change in behaviour for customers since the coming of the e-wallet via mobile phones, which will create convenience to customers,” he said.

    Thanawat Malabuppha is CEO of Priceza, a provider of shopping searches and price comparisons in six countries – Indonesia, Malaysia, Philippine, Singapore, Vietnam and Thailand.

    Thanawat said the e-commerce market in Southeast Asia was one of the fastest-growing and most promising, with it forecast to grow $11 billion in 2025.

    He said Thailand expected to post e-commerce growth of about 20 per cent this year – the driving factors increased Internet and mobile phone use, as well as improved logistics and e-payment systems. This would create heightened convenience and consumer confidence to shop online.

    He said the quality and reliability of online shopping services were another driving force impacting on the acceptance of e-commerce in the region.

    Thanawat added that Priceza provided a price comparison platform to enable shoppers to search for products from multiple categories offered by the many online shops, which promoted fair competition and empowered buyers with informed buying decisions from shop ratings and buyer reviews while giving them better shipping options.

    Priceza envisions being part of the efforts to make the retail ecosystem in the region as transparent as possible and deliver excellent market competition that benefits both buyers and sellers.

    Nuttawit Polwattanasuk, managing director of LnwShop, said the firm provided an e-commerce platform to support more than 460,000 online shops and had online transaction of over Bt1.8 billion last year. The online payment system will have an important role in driving e-commerce in Thailand in the next few years, Nuttawit said.

    The Electronic Transactions Development Agency has forecast that the total e-commerce market in Thailand this year will be worth Bt2.52 trillion.

    That comprises business-to-business transactions totalling Bt1.38 trillion (54.74 per cent), business-to-consumer transactions worth Bt729 billion (28.89 per cent) and business-to-government transactions valued at Bt413 billion (16.37 per cent).

    This would represent growth of 12.4 per cent from last year’s market value of around Bt2.24 trillion.

    The country has around 41 million Internet users, 41 million Facebook users, 33 million Line users, 7.8 million Instagram users and 5.3 million Twitter users, the agency reported.

    Lees ook:

    Lees ook:

  • UberEats Asia expands to Bangkok

    UberEats Asia expands to Bangkok

    UberEats Asia has introduced its stand-alone food-delivery app UberEats to Bangkok.

    It initially covers 100 restaurants and 24 cuisines, and users can track their orders from the moment they are placed until they arrive at their doors.

    “This app offers a window into what the future competition in the food-delivery industry could look like,” says UberEats Asia-Pacific GM Allen Penn. UberEats Asia is a business unit of US-based Uber Technologies.

    Already delivering food in Thailand are Berlin-based Foodpanda, Singapore-based GrabEat and Tokyo-based Line Man.

    After downloading the app, UberEats customers can order a meal and have it delivered in 30 to 45 minutes. The limited initial service areas include Asok, Chinatown, Ekamai, Nana, Pathumwan, Ploenchit, Phrom Phong, Sathorn, Silom and Thong Lor.

    The service will be available 10am to 10pm daily with no minimum price per order.

    “Bangkok has fantastic cuisine and the city has a large population with a strong base of smartphone users,” says Penn. “Most importantly, Thai people love to eat.”

    Bangkok is one of 57 cities in 20 countries where UberEats is available. It is the fifth city in Asia where Uber has launched its food delivery service, following Singapore, Tokyo, Hong Kong and Taipei.

    In other countries, UberEats restaurant partners have increased revenue by up to 50 per cent, says Penn.

    Lees ook:

    Lees ook:

  • AEON in collaboration with Thai Airways launch “Journey of Happiness”

    AEON in collaboration with Thai Airways launch “Journey of Happiness”

    AEON Thana Sinsap (Thailand) Public Company Limited together with Thai Airways International Public Company Limited launched “Journey of Happiness with Thai Airways 2017” campaign to offer privileges from AEON, Thai Airways and JCB partners such as special airfares from Thai Airways, great deals on tour packages from H.I.S and other special privileges from JCB partners to attendants. In addition, AEON Royal Orchid Plus Platinum cardholders, as well as other AEON credit cardholders, will be eligible for a credit refund of up to 10,000 baht on purchases made via AEON credit cards during the event. The event starts from 27-29 January at Fashion Hall, 1st floor, Siam Paragon.

    Lees ook:

    Lees ook:

    Lees ook:

  • Usher in the Auspicious Year of the Golden Rooster with an Exclusive Promotion for Tourists

    Usher in the Auspicious Year of the Golden Rooster with an Exclusive Promotion for Tourists

    Chinese New Year is one of the best chances for traveling as this festival provides the week-long national holidays and a unique vibe of traditional and colorful festivities. As Chinese community in Thailand is one of the largest in the world, the capital city of Bangkok is lit up in colorful festive ambiance and known as one of the most attractive places to visit during this Chinese holiday. Come experience the Thai version of Chinese New Year celebration at “Siam Magnificent Chinese New Year 2017” to be arranged at Siam Paragon, Siam Center and Siam Discovery and bring home a hassle-free, enjoyable memory of a lifetime while enjoying exceptional offers available only at this a must-visit “One Siam” destination.

    BRING IN A GLIMPSE OF CHINATOWN

    Marking the grandest event for Chinese people and expressing the appreciation of Chinese art and culture, we bring in a glimpse of Bangkok’s Chinatown to the all-in-one-place shopping destination as follows:

    • Siam Paragon is set to host “The Marvelous Music Harmonizing Two Realms” between 26 – 29 January in order to demonstrate the good relationship between Thailand – China using music as the links between the two countries’ art & culture. On the opening ceremony, there will be for the very first time music performance by Guzheng & Erhu, traditional Chinese music instrumentals played by Master Li Yang; the Guzheng teacher of Her Royal Highness Princess Chulabhorn Walailak and Master Li Hui, together with traditional Thai music instrumentals played by Korphai Ensemble and the Bangkok Symphony Orchestra (BSO) from 5.00 – 6.30 pm at Parc Paragon. Moreover, other interesting activities include the Chunlian and Duilian calligraphy (a form of auspicious greeting couplets expressing a prosperous year ahead), Chinese paper-cutting, traditional Chinese knotting, and Chinese auspicious painting are the highlights not to be missed at Hall of Fame, M Floor, Siam Paragon
    • Siam Center schedules to host “12 Lucky Shades 2017” exhibition updating 12 auspicious colors suitable for 12 zodiac signs by famous fortuneteller. By boosting more confidence in choosing the right clothing and accessories, the 4 renowned stylists will also give you helpful tips and tricks on how to mix and match your auspicious color with your style in the year of an energetic rooster. The exhibition will take place at 1st Floor, Siam Center from 26 January – 12 March 2017 with an opening ceremony and a Zodiac Sign Mini Fashion Show to be held on 26 January 2017 at 4.00 – 5.30 pm. Siam Center customers can also present their receipts to redeem for a Lucky Pouch with auspicious zodiac signs designed by Mr. Somnuek Klangnok (Kru Parn), a renowned Thai artist.
    • Siam Discovery introduces a “DIY Ceramic Bowl Screen Printing in Siam Discovery Style” workshop aiming to please customers with DIY favors. Those interested can choose their preferred bowl in 2 different sizes then have them screened with a lucky rooster pattern or an auspicious Chinese calligraphy text of their choice, making this DIY Ceramic bowl a limited, one-of-a-kind item in the world. The workshop will run from 26-31 January 2017 at Siam Discovery.

    CHINESE NEW YEAR SPECIAL FOR TOURISTS

    A trip can’t be completed without shopping, especially in Bangkok where shopping is a must activity. Siam Paragon, Siam Center and Siam Discovery offer unrivaled shopping experience suitable for travelers who love varieties and uniqueness. Dropping by this shopping landmark trio during the Chinese New Year 2017, holiday makers and souvenir hunters can rest assured that your splurge will worth every penny.

    Siam Paragon, Siam Center and Siam Discovery offer Tourist Privilege Card for tourists to shop across these three shopping centers with a discount from 5-20%. Tourists also enjoy a welcome package and a birthday privilege upon registration. The welcome package includes Thann Facial Sunscreen and Angbao vouchers valued more than 10,000 Baht from participating brands.

    Enjoy a lot of exclusive tourist offers from 23 January – 9 February 2017 including limited special gifts and promotions as follows:

    • NaRaYa Chinese New Year Collection when spending from 5,000 Baht
    • Thann Body Care Set and Siam Discovery Discount voucher when spending from 10,000 Baht

    Redemption points are available at Tourist Lounge, G floor of Siam Paragon and VIZ Counter, G floor of Siam Center and Siam Discovery.

    Additionally, keep your eyes peeled for a Golden Dragon Parade as they may approach you while shopping during 27-29 January 2017 with ranges of Angbaos, discounted vouchers and many more privilege cards to be enjoyed at more than 100 participating brands throughout Siam Paragon, Siam Center and Siam Discovery!

    DELIGHTFUL GASTRONOMIC JOURNEY

    After taking in these authentic cultural festivities, it is probably the perfect hour for a sumptuous meal. If you are thinking that Chinese New Year is all about a hearty meal with your loved ones, this shopping trio is the right destination to drop by especially during this Chinese New Year. Visa Card offers an exclusive privilege for its cardholders. Dine at participated restaurant using Visa Card and receive special discount and dishes.

    • Siam Paragon reinvents the whole new dining pleasure, with more than 30 globally-renowned restaurants and dessert outlets at The Gourmet Garden, G Floor.
    • Siam Discovery serves the need of Jamie Oliver’s fan anticipating a chance to try out his recipe by introducing the first restaurant of globally-renowned Jamie’s Italian in Thailand at Siam Discovery, G Floor. What’s more, experience the new dining excitement at My Kitchen on the 4th floor where 5 premium restaurants and a dessert outlet are ready to serve their signature dishes.
    • Siam Center offers limitless local and international dining selections at the Food Factory located on the 4th floor for people who love being among a bustling, vibrant surrounding while enjoying a wide variety of delicious food.

    As a must-visit “One Siam” destination, Siam Paragon, Siam Center and Siam Discovery welcome all travelers in the heart of Bangkok during this long holiday and all year round. If one visit is not enough to breathe in all these fulfilling excitements, the shopping landmark trio wholeheartedly welcome you back with a lot more adventures waiting out there.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Gazpromneft-Aero starts refuelling Thai Airways in Moscow under long-term contract

    Gazpromneft-Aero starts refuelling Thai Airways in Moscow under long-term contract

    Gazpromneft-Aero, the operator of Gazprom Neft’s aviation refuelling business, has entered into a new contract for refuelling scheduled flights of the Thai national carrier, Thai Airways, at Moscow Domodedovo Airport. Gazpromneft-Aero will supply aviation fuel for four weekly Thai Airways flights from Moscow to Bangkok. Total refuelling volumes will exceed 18,000 tonnes per year.

    Refuelling of the Thai Airways fleet will be carried out under an existing long-term agreement between Gazpromneft-Aero and Thai oil company PTT Public Company Limited. The agreement on collaboration, signed in 2012, envisages the reciprocal use of those airports at which both companies operate. The agreement provides for the refuelling of Gazpromneft-Aero’s Russian clients at Thai airports as well as the servicing of PTT clients at airports at which Gazpromneft-Aero has a presence, throughout Russia and CIS.

    Gazpromneft-Aero Director General Vladimir Egorov commented: “Gazpromneft-Aero is keen to develop partnerships with national aviation fuel suppliers throughout countries with high volumes of tourist traffic. Together with PTT we have put in place the most convenient and reliable refuelling processes possible for Russian and foreign airlines throughout those airports at which both companies operate. This new contract with Thai Airways demonstrates our partners’ confidence and the strengthening of our company’s position in the global aviation fuel supply market. The Thai national carrier’s flights from Moscow will provide our tourists with additional opportunities for connecting flights via Bangkok to resorts in Thailand, Malaysia, Philippines and Australia. We plan to further expand cooperation with Thai Airways, in the future.”

    Mr Songpon Thepnumsommanus, Vice President PTT, Aviation and Marine Marketing Department, added: “In working with Gazpromneft-Aero we have expanded our western market in aviation fuels. PTT is completely satisfied with Gazprom Neft’s international service standards in supplying aviation fuel for Thai Airways aircraft at Domodedovo. This agreement establishes a firm basis for further joint projects and initiatives.”

    Gazpromneft-Aero is a subsidiary of Gazprom Neft. The company has been providing aircraft refuelling services and selling aviation fuel at airports since January 1, 2008. Since December 2008, Gazpromneft-Aero has been a strategic partner of the International Air Transport Association (IATA) in the field of aviation fuel supply. Gazpromneft-Aero is the leading aviation fuel supplier on the Russian market in terms of its retail sales. The company’s operational activities are fully compliant with the highest safety standards in fuelling operations — “Green”.

    Lees ook:

  • EazyDiner plans to dig into online restaurant booking in Indonesia, Thailand

    EazyDiner plans to dig into online restaurant booking in Indonesia, Thailand

    EazyDiner, a restaurant booking and reviews platform, is in talks with potential investors to raise a fresh round of funding to expand its international footprint in the New Year.

    The two-year-old company, which was co-founded by media personality Vir Sanghvi and six professionals with a background in food, beverages and hospitality sectors, has targeted Indonesia and Thailand as its next two markets.

    While company officials declined to share details of the upcoming equity financing round, they confirmed plans of entering the South East and South Asian markets over the next 12 months.

    EazyDiner launched services in Dubai in December. The startup, which combines the services of Google-owned dining guide Zagat, NYSE-listed restaurant review firm Yelp and Priceline-owned restaurant booking service OpenTable, is also backed by two consumer-focused venture capital firms, DSG Consumer Partners and Saama Capital.

    The funding and expansion come when investor interest in India’s broader foodtech space has waned, with the startup ecosystem littered with the still-smoking embers of ventures that promised to deliver exceptional dining experiences to the notoriously fickle-minded and priceconscious Indian consumer.

    The combination of wafer-thin margins on offer, coupled with low entry barriers and lack of sustainable business models, saw investors curtail their appetite for the ventures.

    EazyDiner has charted a different path for itself. The platform, which also provides content and reviews, operates one of the country’s largest dining loyalty programmes as well. “We were never, and in fact, will never get into food delivery. The economics just don’t make sense, at least in a market like India…We believe it requires a very different skill-set,” pointed out Aman Kapur, one of the cofounders.

    EazyDiner has raised about $4 million in funding till date and counts Gurpreet Kohli, former managing director of Chrys Capital, as one of its early backers. The company operates in seven locations – the National Capital Region, Mumbai, Bengaluru, Kolkata, Pune, Chennai and Goa.

    “The focus is to go deeper into our existing markets and really establish our footprints in each of them rather than just go on an unrestrained growth across geographies,” pointed out Shruti Kaul, another cofounder.

    The platform lists about 2,000 restaurants, with more than 500 spread across NCR. EazyDiner has provided most establishments with its proprietary SaaS-based table reservation platform and has a guaranteed inventory with the rest, enabling them to provide bookings to consumers on an immediate basis.

    Gurgaon, where the company is headquartered and where it first launched operations, has played a critical role. The NCR’s startup hub, which rivals Bengaluru in its concentration of the country’s new economy ventures, has played a significant part in its growth.

    “Gurgaon, possibly, deserves its own mention alongside Mumbai and Delhi. It’s the third-largest contributor after the two metros,” said Kaul. According to her, Gurgaon contributes 15% of the company’s business across the country, outpacing Bengaluru. “For a small suburb, it’s huge. We have about 275 restaurants in Gurgaon on our platform, ranging from luxury establishments to budget restaurants,” Kapur said.

    According to both founders, emergence of the Haryana city as a startup destination has played a role in defining, as well as evolving, consumer behaviour, particularly when it comes to dining habits. “The ability to experiment there is phenomenal and probably much more than the other metros… We also see that people living to working in Gurgaon, while traveling, indulge in a lot more cross-dining than any other city in India,” Kaul said.

    Analyses drawn from consumer behaviour in one of its earliest markets has prompted the founders to look for similar characteristics in every new area it enters. “We’ve actually learned alongside the consumer and the company’s grown even as the consumer has evolved and experimented,” Kapur said.

    Lees ook:

  • KBank keen to buy Indonesian banks

    KBank keen to buy Indonesian banks

    The regulations require foreign banks to buy more than one bank, and that the targets must not be strong institutions.

    KBank president Pipit Aneaknithi said yesterday that the bank currently had partnerships with two banks in Indonesia, and was prepared in terms of facilities and capital to establish its own footprint in the Indonesian market.

    While Indonesia has very high potential for KBank and the takeover of local banks is an option, the requirement that foreign banks have to purchase more than one bank is something that it might not be particularly comfortable with, he said.

    The Bank of Thailand acknowledges this concern, he said, adding that market entry via the Qualified Asean Banks (QAB) scheme is another potential solution for KBank.

    The bank is therefore interested in applying for QAB status if the scheme’s framework is implemented.

    Meanwhile, the establishment of a physical branch in Indonesia is likely to be more difficult than doing so in Vietnam, which is another focus country for KBank, the president said.

    The best solution right now for KBank is therefore seen as the continued partnership with two local banks in Indonesia, he explained.

    Elsewhere in Asean, KBank currently has physical branches in two markets, one each in Cambodia and Laos.

    The Cambodian branch will be officially opened on February 8, with the Vientiane branch in Laos due to be opened later this year.

    With the presence of a physical branch in a foreign market not always the best solution, and the cost of establishing such an operation today a major matter, partnering with local banks is a tangible way to conduct business, he said.

    However, the difficulty is whether the bank and its partners have the same policy direction and share a similar interest in accommodating clients, he added.

    KBank, meanwhile, has been active in terms of international banking business in the past seven years by focusing on China, where it is upgrading to local banking this year.

    The market share of KBank in trade finance between Thailand and China has risen from 5 per cent to 15 per cent in seven years, Pipit said.

    He said the next step for KBank in tapping a regionalised trade-finance market dominated by China would be for the bank to facilitate financial services to Thai clients for business between one foreign country and another. “We should open a letter-of-credit service to our clients in China who want to run a business in Myanmar,” he said by way of example.

    Furthermore, KBank must embrace the digital platform in order to integrate its regional operating model.

    Under its banking-platform plan for 2016-2017, KBank must be able to service cross-border mobile transfers, multicurrency transactions and cross-border direct settlement, he stressed.

    KBank yesterday reported a 2016 net profit of Bt40.17 billion, some 1.77 per cent higher than the previous year’s level.

    The bank and its subsidiaries set aside a loan-loss reserve of Bt33.75 billion at the year’s end, up 28 per cent from Bt26.37 billion the year before.

    The higher reserve reflects the rise in non-performing loans last year, from 2.7 per cent to 3.32 per cent.

    Lending growth, meanwhile, supported net interest income, for which KBank recorded year-on-year growth of 5.5 per cent to Bt89.67 billion.

    Lees ook:

    Lees ook:

  • Five E-commerce Business Models Destined to Rule Thailand in 2017

    Five E-commerce Business Models Destined to Rule Thailand in 2017

    2016 predicted Thailand’s e-commerce boom and it has been forecasted that in 2017, internet users in Thailand will make up 50 percent of the population compared to last year’s 43 percent.

    Once plagued by a shaky foundation of uncertain payment settlement systems and a faltering mobile infrastructure, it seems Thailand has overcome that hurdle and in 2016 became Southeast Asia’s fastest growing e-commerce market.

    With a retail market that is expected to reach 3.21 billion by 2020 – according to Euromonitor International, Thailand is without a doubt carving its niche within the world of e-commerce.

    Fueled further by the launch of 4G services, it seems a path has been paved for numerous online retailers to up their game and offer greater formats of product distribution to an internet-savvy pool of consumers.

    Here are five types of e-commerce business models that are currently taking Thailand by storm.

    Meal Delivery Sites

    With the clean eating craze going strong – particularly in cities – healthy food delivery websites are becoming an increasingly popular business model. Offering healthy alternatives that run from organic to vegan to low-calorie and non-processed foods, the success of these websites can be attributed to the fact that they offer to take away the hassle thought to encompass healthy eating, aka grocery shopping etc. By eliminating these factors, the popularity of meal delivery sites can only grow exponentially.

    Online Deal Platforms

    Capitalising on the Thais’ love for a great deals, the humble coupon is back and stronger than ever. With online deal platforms such as Saleduck offering coupons and deals from powerhouse retail websites like Lazada and Expedia, consumers are able to find money-saving deals on everything from electronics to groceries to first-class airline tickets going for up to 80% off. To set themselves apart from competition, deal and couponing platforms often work closely with their partners to release exclusive codes to provide even greater savings to their customer base and the fact that most of these codes can be accessed without a fee is the icing on the cake.

    Social Media Shopping

    In 2016, PWC’s Total Retail survey noted that 51 percent of online shoppers in Thailand shopped directly through social media platforms such as Facebook and LINE citing interactivity as a strong motivator. Whilst price and convenience play a significant role, the driving force behind social media shopping can be linked to the stream of human connectivity that takes its form in reviews, comments and feedback that comes via social media. 53 percent of social media consumers said that customer reviews are what influences their buying decision.

    C2C Mobile Shopping

    Following in the same vein as social media shopping, C2C is also cited as one of the next big things to emerge in Thailand’s e-commerce ecosystem. The person to person interaction is an element that serves as the heartbeat of successful C2C platforms such as Pantipmarket and Tarad.com. Over 50% of online transactions being performed via mobile phone in Thailand, this is expected to further push consumer-to-consumer shopping further into the limelight.

    Digital Content Websites

    From mobile gaming to SVOD, Thailand’s digital revolution has certainly altered the ways in which people consume content. With over 10 different paid platforms for Thais to choose from including iflix and Doonee, Thailand’s affinity for mobile internet use plays a role in how we choose to consume content via digital platforms. In the world of gaming alone, major telecom operators in Thailand have announced strategies in acquiring digital content and games in an effort to meet the rise in demand.

     

  • TCL Electronics pictures broader appliances market beyond TVs in Thailand

    TCL Electronics pictures broader appliances market beyond TVs in Thailand

    TCL Electronics, a Chinese electrical appliance manufacturer that sells televisions in Thailand, is considering expanding its product range in the country. The company is conducting a market study that may pave the way for it to sell other home appliance products, including air-conditioners, refrigerators, and washing machines. Such a move would reduce TCL’s reliance on only one product line in the Thai market.

    Thailand’s overall consumer electronic market dropped 3 per cent year on year to Bt34.5 billion in the first 11 months of last year. Sales of flat-screen and plasma televisions dropped slumped by 8 per cent |over the period to about Bt23.3 billion.

    In contrast, overall sales of home appliance products, such as refrigerators, air-conditioners, and washing machines, increased by 6 per cent to Bt54 billion in the first 11 months of 2016.

    Sandy Zhou, head of marketing at TCL Electronics (Thailand), said TCL Thailand was keen to add a broader range of electrical appliances to its offerings in Thailand, meeting rising consumer demand in the segment. The strategy also would help TCL to improve its operational efficiency and lower management risk.

    She said that TCL Thailand achieved sales of Bt2.5 billion last year, maintaining its position as a top-three TV player in Thailand with 8 per cent market share.

    Zhou said TCL’s main income is derived from products such as Smart TV and QUHD TV, which cover the mid to premium ends of the market. TCL’s customer base can be categorised as 45 per cent in Bangkok, with 55 per cent in the rest of the country.

    “TCL Thailand expects to increase our market share in the local TV market to 10 per cent or approximately 300,000 units (Bt3.2 billion in sales value) this year. For other home appliances, our products will be launched on the market in the third and fourth quarters of this year,” she said.

    “We however have no plan to set up a manufacturing facility for our consumer electronic and home appliance products in Thailand at this moment,” said Zhou.

    TCL Thailand has been established in Thailand for more than 13 years, building up a brand loyalty and good teamwork in its workforce.

    “For this year, our strategy is to expand our sales channels domestically. We plan to increase the number of our dealers here by 30 per cent, and by 15 per cent for the number of modern retail stores. We also plan to adjust the image of our existing 100 showrooms in the Kingdom to be under the ‘Creative Life’ concept,” she said.

    Zhou said that TCL had 75,000 employees throughout Asia, the Americas, Europe and Oceania, with sales organisations in more than 80 countries and regions, and 23 research institutions and 21 manufacturing and processing bases worldwide.

    “TCL Thailand will focus on Thailand only. TCL Group also has offices in the Philippines, Vietnam and Indonesia,” she added.

    TCL Thailand pursues its business with customer- and product-oriented strategies. Core strategies include a focus on brand awareness and price performance through maximising product value and performance efficiency.

    Wannapong Tawara, associate director of GFK Retail and Technology, a market research company in Thailand, said Thailand’s TV market value in 2017 should be similar to that of 2016, considering consumers are still cautious on discretionary spending.

    However, electrical appliances including TVs that are designed to be connected with other applications appeared to be in high demand, tapping into new consumer lifestyles, Wannapong said. With this in mind, electric appliance makers should consider introducing a variety of products that offer complex entertainment and service options and are well priced and easy to use, while coming with good after-sales service.

    Lees ook:

    Lees ook:

    Lees ook:

  • Tourist arrival number 32m sets new Thai tourist record

    Tourist arrival number 32m sets new Thai tourist record

    The Tourism Authority of Thailand (TAT) says a new record was broken at the end of December when it received its 32-millionth visitor. The red carpet was laid out to welcome the fortunate arrival as part of ’Thailand’s Luckiest Visitor’ campaign which was originally started in 2015 to recognise and reward every millionth visitor to Thailand, from the 13 millionth to 29 millionth during June to December.

    TAT says that this campaign has subsequently proved to be hugely popular, with both tourists and media helping to enhanced Thailand’s brand image.

    So much so, that Thailand is expecting to earn total international tourism revenue of around Baht1.62 trillion (US$46bn) in 2016, representing a year-on-year increase of 11.68% compared to 2015.

    BIG PUSH TO ENCOURAGE MORE ARRIVALS

    To boost these numbers further, TAT says that several initiatives have been put in place to encourage more tourist arrivals, including visa waiver fees for visitors from 19 countries from 1 December, 2016, to 28 February, 2017 and a halving of visa-issue fees on arrival over the period.

    Meanwhile, the Tourism Authority of Thailand and the Tourism Ministry have announced newly revised tourism revenue targets for 2017 Bt2.71 trillion ($76.1bn) which represents an 8.2% rise on 2016.

    This follows earlier statements suggesting that Thailand’s tourist numbers for 2016 are now expected to total around 32.6m when the final count is in – an increase of around 8%.

    In addition, TAT has confirmed that it is bringing back its Thailand Tourism Festival (TTF) to coincide with Chinese New Year 2017 between 25-29 January this month. It is hoping his will attract more than 650,000 visitors.

    Lees ook:

  • Krungthai Bank to transfer tax refunds via Prompt Pay

    Krungthai Bank to transfer tax refunds via Prompt Pay

    Krungthai Bank has announced it is now fully ready to utilize the National E-Payment system ‘Prompt Pay’ and will starting January 4, 2017 use it to transfer senior citizen and disability stipends as well as tax refunds for the public.

    Vice President for Business Finances at Krungthai Bank Songpol Cheewpanyaroj has announced that from January 4 2017 onward, Krungthai, as the bank tasked by the Revenue Department with forwarding tax refunds to citizens signed on to the Prompt Pay system, will begin doling out the funds through the e-payment method. He noted that citizen can continue to register for the system between January 1 and March 31 so that they may use it to receive their refund.

    In February, the bank will also be using Prompt Pay to distribute government stipends to the elderly and disabled and urged those eligible for the assistance to register for Prompt Pay soon.

    At present, over 2.2 million citizens are in the Prompt Pay system, which was already used to disperse low-income earner aid to some 300,000 people.

  • Massive Failure of KBANK before New Year

    Massive Failure of KBANK before New Year

    Kasikorn Bank says it is working to fix the complete outage of its services Friday before New Year, which comes just before a bank holiday.

    On a day many say they need access to their money the most, K-Bank’s ATMs as well as online and mobile banking systems have been offline since Friday morning and were still unavailable as of 5pm.

    The bank has yet state the cause of the error, but responded to complaints on its Facebook page and Twitter account it was trying to solve the problem.

    The bank said it could not provide the specific time its website and application services would be working again.

    K-Bank’s mobile system was also disrupted briefly Thursday evening.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Easy Pass users can now top up with MasterCard via “easyBills”

    Easy Pass users can now top up with MasterCard via “easyBills”

    2C2P, Expressway Authority of Thailand (EXAT) and MasterCard have partnered to launch a new top-up channel for Electronic Toll Collection System for Easy Pass users in Thailand. Easy Pass users can now top up their cards easily with their MasterCard via easyBills’ mobile application or its website (www.easyBills.in.th), without having to pre-register their cards with the respective issuing banks. They will enjoy benefits including points accumulation upon card usage, extended due dates for payments made through the credit card, convenient storage of their favorite billers for repeat usage and checking their historical transactions, as well as the ability to set bill alerts on their calendar.  A thousand gift cards worth 500 baht each will be given away to the top 1,000 MasterCard cardholders who accumulate the highest Easy Pass top-up value via easyBills from now till 28 February 2017.

    Mr. Piyachart Ratanaprasartporn, Chief Executive Officer of 2C2P (Thailand) Co., Ltd., said:  “easyBills is an innovative payment service catered to digital users who are familiar with the online platform. The collaboration marks the first time that Easy Pass users can easily and conveniently top up their cards without cash, using their MasterCard without pre-registering with their banks, simply by downloading and using the easyBills mobile application on either iOS or Android, or by visiting easyBills’ website.”

    “easyBills helps consumers pay their bills easily, bringing convenience to everyone. It is equipped with special features that enable users to store their favorite billers for future usage, store their credit card details securely for future payments with 2C2P’s PCIDSS Level 1 certification and set biller alerts on their calendar to remind them of the payment due. Users will receive their payment confirmation via their emails,” Mr. Piyachart added. 

    Mr. Antonio Corro, Country Manager for Thailand & Myanmar, MasterCard, said, “MasterCard is very pleased to join our partners to increase convenience to our customers. They can now top up their Easy Pass card through the easyBills mobile application and website, with their MasterCard that is issued by all the banks in Thailand. They can be assured that all the online transactions are secure, while enjoying the privileges from using MasterCard. We believe this service will pave the way for Thailand to become a cashless society soon.”

    Mr.Narong Gieddech, Governor of Expressway Authority of Thailand (EXAT) said: “Since 2010 we have provided our service for the Electronic Toll Collection (ETC) system;  there are 1.3 million Easy Pass card users. We are excited to join hands with MasterCard and 2C2P who developed easyBills. easyBills’ application and website will be the 12th top-up channel for Easy Pass. This service will be bolstered by Thailand’s National e-Payment system, which the government is set to launch to transform Thailand into a cashless society.”

    easyBills “Pay Bill Easily…Get More Easier”, is developed by 2C2P in collaboration with MasterCard. Through this service, cardholders can pay utility bills, such as electricity, water supply, telephone, mobile phone top-up and e-wallet, as well as for insurance premium, online products, games, books and several other bills all in one app, anywhere anytime. Most importantly, security meets the international standard of 3D Secure.

    There will be a giveaway of a thousand Tesco Lotus gift cards worth 500 baht each. The prizes will be awarded to the top 1,000 MasterCard cardholders who accumulate the highest top-up value on their Easy Pass via easyBills from now until February 28, 2017.

    Lees ook:

    Lees ook:

    Lees ook: