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Tag: Thailand

  • New L’Oreal Thailand boss goes for the top

    New L’Oreal Thailand boss goes for the top

    Keraudy will take over from Umesh Phadke as the first female managing director of L’Oreal Thailand on April 1. She is currently general manager of L’Oreal Thailand’s consumer products division, and will come to the top position with significant experience in L’Oreal across multiple countries.

    “My second priority will be to continue growing our people and ensure we are doing business in a sustainable way. We want to make sure L’Oreal Thailand is the best place to work for all employees and grow our business in a manner that will have a positive impact on both society and the environment,” she said.

    L’Oreal Thailand has 21 brands, ranging from mass market brands to luxury, offering consumers a wide range of beauty products and price points. Last year alone, it sold 87 million product items across all categories.

    L’Oreal (Thailand) Co, a subsidiary of the world’s leading beauty company, has announced impressive 2015 performance, especially in the facial skincare segment, the largest in the Thai beauty market, as well as accelerated growth in the makeup sector.

    L’Oreal’s business is ranked No 1 in the Asean countries where it operates.

    The value of Thailand’s skincare market last year was estimated at Bt26 billion, up 5 per cent over 2014. Facial skincare accounted for 68 per cent of the market, with makeup, which posted the fastest growth of 6.5 per cent, valued at about Bt14 billion.

    Outgoing managing director Umesh Phadke said L’Oreal Thailand had performed strongly performance and remained the fastest-growing beauty company in the country.

    “Our leadership in the highly competitive facial-skincare market, our fast growth in the makeup market, and our adherence to the very highest standards of trust and innovation in our operations [are] at the heart of this great achievement for our company. I would like to thank every L’Oreal employee for their contribution to this great success,” he said.

    In order to accelerate further in 2016, the company will focus on five key areas: introducing new brands, strong product innovation, effective communication, both online and offline, expanded distribution channels and increased concentration on sustainability.

    Digital innovation will also be key strategy for L’Oreal Thailand in a highly mobile and connected market. Thailand has nearly 82 million mobile connections, and more than 37 million people use Facebook every month.

    Average social-media use is almost three hours a day.

    “We are focusing more on digital media, and have invested 130 per cent more in digital media compared [with] last year. Our Garnier Sakura White campaign with ‘selfie sticks’ used as a means of relating to Thai consumers who love taking selfies had almost 3 million views on YouTube and was recognised as the best campaign worldwide,” Phadke said.

    E-commerce is another growing trend, with overall Internet retail increasing by 30 per cent in 2015 to Bt47 billion in total value, according to Euromonitor. DHL reports that the Thai e-commerce market is growing rapidly, and is expected to more than triple in size to Bt138 billion by 2020.

    “Thai people aspire to beauty,” Phadke said. “It is a consistent part of Thai life, and this can be seen prominently in the culture, arts, architecture, and the way one expresses oneself here.

    “The Thai quest for beauty has facilitated the growth of the Thai beauty market, and fills the future with great opportunity. With exciting new brands, strong product innovations, innovative digital communications, e-commerce growth and high-quality in-store services and experiences, we are confident that we will take our place at the top of the makeup market in the near future, while continuing our strong leadership of the facial-skincare market.”

    The company says Nathalie Gerschtein Keraudy has strong understanding of the Thai beauty market, with three years of success in the country’s business results.

    Phakde will move to a new role as country manager of L’Oreal Indonesia.

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  • Huawei Ascend G7 Plus is now Available in Thailand for 12000 Baht

    Huawei Ascend G7 Plus is now Available in Thailand for 12000 Baht

    The Huawei G7 Plus is now on sale in Thailand with the retail price of 12,000 Baht.(Photo : YouTube)

    Chinese smarpthone maker Huawei has announced that their latest device called the Ascend G7 smartphone is now available in Thailand for 12,000 Baht. The Huawei Ascend G7 Plus smartphone is the follow up to Ascend G7.

    This device is one the Chinese tech giant’s latest offering in the ever increasing competitive mid-range smartphone market.

    In terms of the specification of the device, the G7 Plus smartphone features an improved 5.5 inch display screen and processor compared to its older predecessor. The handheld device has a new full HD IPS screen making the display more vibrant and crisp. The handset is powered by an octa-core qualcomm 615 snapdragon processor paired with 3GB of RAM.

    The Huawei Ascend G7 Plus comes with a built-in 32GB internal storage, which can be further expanded up to 128GB via a microSD card. When it comes to the camera, the device is equipped with 13-megapixe rear shooter with fingerprint sensor and 5-megapixel front snapper camera for much selfies and video calling.

    The smartphone is powered by a 3000mAH capacity battery and runs on Huawei’s own flavour of Android 5.1 operating system. Other feature the device has to offer includes LTE connectivity, Wi-Fi, Bluetooth, and GPS. In addition, the Huawei Ascend G7 Plus smartphone is also equipped with dual SIM card slot.

    The Huawei Ascend G7 Plus smartphone is recommended for anyone who is looking for a mid-range Android handset. The overall main highlight of the device is its design, the body structure of the handset is slim and looks great. Another thing is the fact that it is fueled with a powerful 3000mAH battery and Huawei’s lighting fast fingerprint scanner.

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  • REITs set to outperform equities as investors go in search of yields

    REITs set to outperform equities as investors go in search of yields

    The Stock Exchange of Thailand continues to stay in positive territory, gaining around 7 per cent year to date, despite the sluggishness over the last two weeks. Nevertheless, the SET Index still failed to breach the psychological 1,400 level.

    Month-to-date, the market leaders were PTT, PTT Global Chemical, Siam Cement, Charoen Pokphand Foods and CP All. The laggards were Bumrungrad Hospital, Advanced Info Service, U City, Banpu and Minor International.

    Foreign investors bought Bt11.7 billion worth of Thai shares from March 1-17, leaving the year-to-date net-buying position at Bt3.6 billion.

    Since the beginning of the year, the performance of real estate investment trusts (REITs) has been well ahead of equities. We believe the trend will continue as global investors seek yields amid negative interest rates in both Europe and Japan, coupled with low rates elsewhere (including Thailand).

    On average, equity returns in developed markets remain in the red to the tune of minus 3 per cent year to date. In contrast, emerging-market stocks outperformed their developed-market peers with a year-to-date gain of around 3 per cent.

    Interestingly, global REIT prices have surged on the back of investors seeking yields and the US Federal Reserve’s decision to delay its rate increases in 2016. The S&P Global REIT, which is a benchmark of publicly traded equity REITs listed in both developed and emerging markets, has risen by almost 6 per cent since the beginning of the year.

    Going forward, REITs remain appealing on a selective basis given their high yields and resilient revenue streams.

    The top 5 REITs recommended by the DBS REIT team in Singapore are (1) Mapletree Greater China Commercial Trust; (2) Frasers Centerpoint Trust; (3) Ascendas REIT; (4) CapitaLand Retail China Trust; and (5) Mapletree Logistics Trust.

    These REITs are expected to pay regular dividends, with potential for further growth arising from the expansion of their asset portfolios. Their yields range from 6 to 8.4 per cent.

    Investing in REITs comes with risks, and we advise investors to study our research reports on REITs before making any investment decision.

    Tisco Securities

    The Stock Exchange of Thailand may soon re-test the 1,400 points resistance level after the US Federal Open Market Committee left interest rates unchanged, as expected, but cut the number of planned increases this year to two from four previously.

    The Fed’s dovish stance weakened the dollar |but helped boost appetite for risk assets including Asian currencies and equities. Also positive for the |Thai market is the recent strong rally in global oil prices.

    Nonetheless, we remain cautious on the SET’s |outlook this year and anticipate heavy profit-taking above 1,400 points. Foreign-investor positioning remains very underweight (at 29 per cent, an 11-year low).

    The key concerns of clients, expressed during |our trip to Europe last week, were the same: slow |economic recovery, high household debt and low industrial capacity utilisation. These factors, coupled with persistently weak exports and worse-than-expected drought, are likely to lead to a downgrade of the 2016 GDP growth forecast when the Bank of Thailand’s Monetary Policy Committee meets on Wednesday.

    We continue to favour tourism plays such as AOT (Airports of Thailand), AAV (Asia Aviation) and BA (Bangkok Airways) after February data showing a 16 per cent year-on-year rise in foreign tourists to a new monthly record of 3.1 million. Chinese tourists led the way, with 23 per cent year-on-year growth, but the most interesting part of the data was the 14.3 per cent year-on-year jump in arrivals from Russia – the first positive figure in nearly two years.

    In the banking sector, TCAP (Thanachart Capital) remains a mid-term “buy” on recovery of legacy non-performing loans and auto-loan quality, NIM (net interest margin) expansion, tax shields to improve RoE (return on equity) and capital/LLR (loan loss reserve) buffers from the second half of 2015 to the first half of 2018 and superior dividend yield.

    We also have a “buy” rating on TMB due to its solid growth prospects and lower cost of funds backed by its increasing penetration of the SME (small and medium-sized enterprises) segment.

    Elsewhere, we have revised up our target price for ROBINS (Robinson Department Store) by 8 per cent to Bt52 after its chief executive officer’s surprise announcement that the retailer is on track to achieve 4 per cent SSSg (same-store sales growth) in the first quarter of 2016.

    This is mainly due to its flexible product-mix strategy and strong performance of its Lifestyle Centres. With the expansion of Lifestyle Centres (two more were opened in the fourth quarter of 2015), ROBINS now derives 45 per cent of its net profit from rental space.

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  • TOT allows AIS to trial use of 2.1-GHz spectrum

    TOT allows AIS to trial use of 2.1-GHz spectrum

    Thai state-owned operator TOT has granted former concession holder AIS permission to provide a trial mobile service over the 2100-MHz spectrum band.

    TOT has not yet permitted AIS to commercially use the spectrum but will allow the private operator to conduct technical testing ahead of the signing of a planned partnership deal.

    But regulator NBTC is looking into the decision to allow the trial using 15 MHz of the 2100-MHz band after receiving an informal complaint complaining that this should not be allowed as they have yet to finalize the terms of the partnership.

    The operators are currently negotiating a deal to provide a joint 3G service over TOT’s 2100-MHz spectrum.

    AIS had been using the spectrum as part of its earlier build-operate-transfer concession agreement with the state-owned company.

    AIS subsidiary AWN currently provides wireless broadband over 15MHz of its own 2100-MHz spectrum and 15MHz of 1800-MHz spectrum, both acquired at auction under the new licensing regime. But the operator is keen to acquire access to more spectrum to meet rising data demand.

    In addition, AIS has reportedly reached an agreement with rival Dtac to roam the remaining AIS 900-MHz 2G subscribers to Dtac’s 1800-MHz network upon the switch-off of the 900-MHz service.

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  • Thailand’s AIS facing 2G switch-off

    Thailand’s AIS facing 2G switch-off

    Subscribers to Thai operator AIS’ 900-MHz 2G service could face having their services disconnected by midnight tonight amid an ongoing dispute over spectrum usage.

    AIS still has around 400,000 2G subscribers left on its 900-MHz 2G network, but spectrum AIS had been using for the service has been reallocated at auction to True Move H Universal Communication.

    True’s 900-MHz license is due to take effect from today, leaving the fate of the remaining subscribers hanging in the balance. According to the report, AIS is expected to announce that its 2G subscribers will not face any disruption as a result of the reallocation, even though the rules stipulate that AIS will have to switch off its 900-MHz service after the spectrum changes hands.

    The NBTC recently held meetings with AIS, state-owned TOT and True over ways to prevent disruption to the remaining customers. But the companies were reportedly unable to reach a mutual agreement.

    True had offered to let AIS use its 900-MHz spectrum in exchange for a usage fee, but AIS has insisted on using the 900-MHz spectrum from the other winner of 900-MHz spectrum, Jas Mobile Broadband. The NBTC has rejected this proposal.

    Meanwhile the regulator has ordered that the applications of around 800,000 2G subscribers of AIS and rival Dtac be port their mobile number to True’s network be expedited.

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  • Dtac launches social media campaign in support of AIS

    Dtac launches social media campaign in support of AIS

    Dtac has launched a social media campaign under the hashtag #fairfight pledging support for AIS and its subscribers.

    The campaign features Dtac CEO Lars Norling saying that he cares for all mobile users and that AIS 2G subscribers are welcome to roam on Dtac and do not have to worry about their SIM cards being cut off. AIS subscribers do not need to port their numbers to any new network to continue using their phones.

    This is a thinly veiled reference to TrueMove’s ongoing campaign to win customers from both their networks.

    However, at the last moment literally minutes before the planned network switch-off, AIS was granted an injunction by administrative court nullifying the NBTC order that AIS would have to switch off its 2G network on midnight of 15 March.

    AIS CEO Somchai Lertsutiwong asked the court that it be allowed to continue to use 5 MHz of Jas’ 900-MHz spectrum (that it is already using). Somchai argued that continuing to use Jasmine’s as yet unclaimed spectrum would have no effect on TrueMove’s 900-MHz licence that was granted on Monday 14 March.

    The court order allowed AIS to continue using the 900-MHz spectrum for another 30 days until 14 April. The deadline for Jasmine to pay for its 900-MHz spectrum is 21 March.

    AIS has an estimated 400,000 users still dependent on its 2G network, most with 3G capable SIMs but old 3G handsets.

    Meanwhile AIS has been ordered by the supreme court to pay state-owned CAT Telecom $200,000 (7 million baht) plus interest for negligence. The court ruled in CAT’s favour that AIS was responsible for negligence in allowing 165 subscribers to take out 185 numbers with incomplete or falsified identity documents or signatures and make overseas calls on CAT’s network that could not be traced and billed.

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  • Thai telecom market let down by state mis-investment

    Thai telecom market let down by state mis-investment

    Telecoms consultancy Yozzo has released a report on Thailand’s telecom market at the end of 2015 in which it highlighted a vibrant, healthy market that is let down by mis-investment by the state.

    Report author Allan Rasmussen told TelecomAsia that according to the ICT Ministry’s own national statistical office 25 million Thai citizens do not use the internet because they do not know how, 47,000 do not use the internet because of network access issues and 216,000 because they find it too expensive. However, the ICT Ministry is spending $427 million (15 billion baht) [on the state telcos] to roll out internet so that everyone can get online at cheaper prices – when that is obviously not the issue.

    “It would be a wise move to teach them how to surf [the internet] as obviously neither lack of network nor pricing is the major issue,” he said.

    On the plus side Rasmussen noted that overall the data shows that the Thai population is very well positioned when it comes to mobile communication with very high mobile internet usage as part of a daily routine.

    “It is especially great to see the female population having a small upper hand with 83.9% using a smartphone to access the internet while ‘only’ 79.6% of males do the same,” he said.

    The report also shows that 2015 was a record year in terms of smartphone sales, with 22 million units.

    “Samsung is probably also smiling as 20% of this volume carried their brand, mostly due to the introduction of their Galaxy J series (J2, J5 and J7) but overall the 47% year-on-year growth in sales was due to the fierce handset promotions from the operators as they tried to move users from 2G to 3G or 4G handsets.

    “In June 2015 alone, there were a staggering 1,800 different mobile device models competing in the market Thai market a clear indication on just how interesting the Thai market is for mobile device manufactures,” he noted.

    In terms of social media YouTube stood out with a 70% growth in watch time and equal (70%) growth in uploaded content. But the real killer was that Thailand now has 18 local YouTube channels with more than a million subscribers each, which is 4.5 times the average.

    The full report can be accessed here.

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  • Dtac’s 4G rollout proposal rejected for now

    Dtac’s 4G rollout proposal rejected for now

    Thai regulator NBTC has rejected a request from mobile operator Dtac to be allowed to deploy a 4G service based on its existing unused 1800-MHz spectrum.

    Dtac has access to 50MHz of 1800-MHz spectrum under its existing 2G concession arrangement with state-owned CAT Telecom, which is due to expire in 2018.

    But the NBTC has declared that approving the proposal to use an unused portion of the 1800-MHz spectrum would violate the concession agreement.

    The regulator stated that Dtac must present formal evidence demonstrating that CAT and Dtac have mutually agreed on the 4G proposal, noting that it has no authority to allow companies to violate the terms of concession agreements.

    Dtac currently uses 25MHz of its 1800-MHz spectrum for 2G, and after returning 5MHz of the remainder for the 4G auction last year now has 20MHz left unused.

    But securing the go-ahead from CAT will require the companies to negotiate on a revised revenue sharing agreement. This threatens to delay Dtac’s 4G rollout, which would potentially be a significant disadvantage if rival operators are able to deploy LTE services more rapidly.

  • TrueMove H taps Ericsson for LTE-A rollout

    TrueMove H taps Ericsson for LTE-A rollout

    Thailand’s TrueMove H has appointed Ericsson to support its LTE-Advanced rollout in north, central west and south Thailand.

    Under the contract Ericsson will help deploy LTE-A carrier aggregation and further expand TrueMove H’s 2G and 3G networks on the 900-MHz, 1800-MHz and 2100-MHz spectrum bands.

    The three year contract will see Ericsson provide multi-standard radio equipment using the new Ericsson Radio System, ranging from indoor small cells to macro cells.

    “We are committed to offering our customers the best mobile broadband experience,” True Corp COO Vichaow Rakphongphairoj said.

    “Our Partnership with Ericsson will further strengthen our 3G/WCDMA and 4G/LTE leadership in Thailand and enable us to offer optimized mobile data service with the best smartphone performance to our customers.”

    TrueMove H was one of two winners of 900-MHz 4G spectrum during an expensive auction last year, after bidding 76 billion baht ($2.1 billion).  But fellow license winner Jasmine appears likely to  miss the deadline for paying the first installment of its own bid.

  • TrueMove, StarHub and China Mobile enter in an alliance

    TrueMove, StarHub and China Mobile enter in an alliance

    StarHub has signed an MoU with China Mobile and TrueMove covering hand-in-Hand collaboration.

    Under the agreement, China Mobile Communications Corporation, the world’s largest telco, will play host to the collaboration in five areas: device collaboration on research initiatives for mobile network evolution technologies; strengthening complementary capabilities for data business services; enhancing mobile business through global roaming cooperation and information sharing; leveraging network resources to maximize efficiency; and co-developing new business opportunities in relation to innovation and the IoT.

    StarHub CEO Tan Tong Hai said the signing was an important milestone for StarHub, and a timely one as China embarks on its One Belt One Road project in which Singapore is well poised to facilitate the journey.

    Tan said that Singapore being the regional hub for Southeast Asia is the best place to build this bridge between Southeast Asia and China. He spoke of the investments China Mobile had made in submarine infrastructure linking the region to East China.

    The One Belt One Road project is the combination of the Silk Road and the Maritime Silk Road under a vision by Xi Jinping that focuses on connectivity and cooperation among countries primarily in Eurasia.

    Tan promised seamless cross-border experience for his China Mobile partners.

    “As part of this partnership, we will also look into other areas of collaboration such as data analytics, content, cyber security and Internet of Things,” he said.

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  • Thai developers raise Bangkok’s Icon Siam investment to $1.6 bln

    Thai developers raise Bangkok’s Icon Siam investment to $1.6 bln

    Thailand’s Charoen Pokphand Group (CP) and two property firms have raised their investment
    in Bangkok’s Icon Siam development to 54 billion baht ($1.6 billion) to expand its shopping malls, an executive said on last Tuesday during an official press.

    Despite Thailand’s slowing economy and weak consumption, there had been strong demand for luxury condominiums and retail shops, Chadatip Chutrakul, the riverside project’s director,said.

    “We will increase investment by 4 billion baht to expand space,” Chadatip told reporters, adding that the company was targeting demand from domestic travellers and foreign tourists.

    CP, controlled by billionaire Dhanin Chearavanont, formed a joint venture with Siam Piwat Co, operator of luxury shopping mall Siam Paragon, and Magnolia Quality Development Corp to develop the luxury mixed-use project.

    Half of the budget will come from loans and the group has received financial support from Thai banks such as Kasikornbank, Thanachart Bank and Bank of Ayudhya, she said.

    The project, located on the bank of the Chao Phraya River in Bangkok, is expected to open in 2017. It will have two high-end retail complexes, two luxury waterfront condominium blocks and a museum and entertainment centre. Japan’s Takashiyama will open its first store in Thailand in the new centre, she said.

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  • Realty, retail to spur trade NPL

    Realty, retail to spur trade NPL

    NPLs in the property sector are expected to surge by 22 basis points to 4 per cent, while loan demand from this sector is expected to grow by only 3.8 per cent, down by 5.2 percentage points year on year because the property supply is becoming mature.

    However, the highest NPLs still be seen in the commercial and trading sector. TMB Analytics expects bad debt in this sector to expand to 4.45 per cent from 3.9 per cent in 2015.

    Naris Sathapholdeja, senior vice president of the research house, said NPLs in the property sector could result from medium-sized property developers upcountry having trouble selling residential units.

    Meanwhile, community-mall developers have faced less shopper traffic, so occupancy rates for retail space are low as well.

    Earlier, community malls were all the rage, but the economic slowdown has hurt consumers’ purchasing power, and the developers of this type of mall are not big names like listed retailer developers.

    Overall NPLs in the banking industry this year will touch 2.63 per cent, TMB Analytics said, up by 8 basis points from 2015, while lending growth is expected to be 4.1 per cent, slower growth than last year’s 4.3 per cent.

    Business loans should expand by 3.6 per cent, mainly from the construction industry if the government sticks to its announced investment schedule.

    As for the Thai economy, TMB Analytics says private investment will be needed to drive growth in gross domestic product. The research house has forecast GDP growth of 2.8 per cent, but that would require a 3.1-per-cent expansion in private investment and 15-per-cent growth in government investment. Otherwise, GDP growth might be no more than 2.5 per cent.

    Previously, TMB Analytics revised down its projection on GDP growth this year from 3.5 per cent to 2.8 per cent because it was clear the export sector would not return to its former health, so investment was the only hope for the economy apart from tourism.

    The research house has slashed its forecast for the export sector this year from growth of 1.8 per cent to a 4.5-per-cent contraction.

    Thailand will not see double-digit growth in export value any more because countries worldwide have shifted their growth mode from a manufacturing base to a service base, Naris said.

    Low inflation has closed off the chance for the Bank of Thailand to raise the policy interest rate, but the fragile global economy and the strengthening baht might encourage the central bank to reduce the rate.

    “We think if the central bank does cut the policy rate, it should do so in the first half of this year, because the US Federal Reserve will raise its rate in the second half,” he said.

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  • Iconsiam unveils the era’s most glamorous retail and entertainment complexes

    Iconsiam unveils the era’s most glamorous retail and entertainment complexes

    Mrs. Chadatip Chutrakul, a director of ICONSIAM, the owner of ICONSIAM – the iconic landmark of Thailand’s prosperity by the Chao Phraya River, today, held an event to present a detailed look at a city of the future and unveiled the era’s most glamorous retail and entertainment mega-complexes covering 525,000 square metres, and which is set to become one of the most exciting destinations in the world when completed in late 2017.

    The event was conducted at an evening of spectacular presentations attended by more than 1,500 guests and ending with a cruise on the majestic Chao Phraya River. Retail News was at the official press conference in the Shangri La Hotel in Bangkok and was reporting “live” on our social media channels.

    With a total gross floor area (GFA) of 750,000 square metres, ICONSIAM will be a new symbol of national pride for Thailand and its people.  The project includes:

    • 2 of the world’s most glamorous retail complexes, namely ICONSIAM (Main Retail & Entertainment) on a vast area of 500,000 square metres and ICONLUXE (Luxury Wing) which covers 25,000 square meters. The two mega-complexes have separate parking spaces and facilities but share visitor traffic throughout.
    • 2 world-class residential condominium buildings: Magnolias Waterfront Residences at ICONSIAM and The Residences at Mandarin Oriental Bangkok.
    • 7 precedent-setting attractions which will be the first of their kind in Thailand and which are called the Seven Wonders at ICONSIAM.

    ICONSIAM – The Icon of Eternal Prosperity – is being developed by a highly reputable partnership between three of Thailand’s most successful businesses, assuring the project the national landmark status that it seeks.  The development partners are Siam Piwat – the owner and operator of globally reputed prestigious retail developments including Siam Paragon, Siam Center, and Siam Discovery – MQDC Magnolia Quality Development Corporation, the owner and developer of luxury quality residences – and, the multi-national Charoen Pokphand Group.  The partnership with Bht 50,000 million was announced in 2012 as an agreement to create a the largest commercial development. It’s been 3 years together by far.

    A commitment to build Thailand’s stature on the world stage

    Mrs. Chadatip Chutrakul said, “ICONSIAM will open a new chapter in the history of Thailand.  It represents a great property endeavor that is the most complete and spectacular ever undertaken in Thailand.  ICONSIAM will be the most compelling, must-see destination drawing Thai people from around the country and international visitors from the around the world.  We are creating a new benchmark of excellence in every aspect.  It is the creation of a new paradigm for the property development sector.  It combines everything one needs to live a way of life of the future – the best in residential offerings, a complete range of products and services as well as innovations to keep one comfortable, and unprecedented advanced communications.  ICONSIAM will be at the centre of a plan to unveil the glory of the Chao Phraya River as a global destination.”

    ICONSIAM aims to turn the area along the 10-kilometre frontage of the Chao Phraya River into a major global destination offering unparalleled experiences because the entire stretch of the great river represents all aspects of what is special about Thailand and Thais.  Located along the river are over 20 historic archeological sites, 50 upscale hotels with more than 10,000 rooms, over 200 luxury residential developments that are already available on the Thonburi side of the river and many more to be built on both sides by the public and private sectors.  ICONSIAM will help bring them together to glorify Bangkok under a national collaboration outlined in the Chao Phraya River Master Vision plan which was announced in 2014.  Under the plan, agencies in the public and private sectors, riverside business operators and boat operators will work together to turn the world’s attention back on to the river as Bangkok’s most promising centre.  It will reinforce every aesthetic aspect of Bangkok as one of the world’s most attractive cities where people around the world want to live and where investors want to do business.

    Mrs. Chadatip said, “New developments normally highlight concepts inspired from other countries.  But ICONSIAM is committed to presenting Thailand’s outstanding aspects such as Thai wisdom, exquisite craftsmanship, unique architectural elements, history, tradition, culture, etc.  We are presenting a forward-looking Thainess for the world to see. ICONSIAM will present more than a million stories of success and pride of Thai people from local to national level. It will also represent an imagination of this era that showcases those stories in many ways in a forward-looking Thainess or “Creative Thai” for the world to see.  It will be the first time that such a large project in Thailand will present Thai characteristics in all aspects.

    ICONSIAM is intended to be a new symbol of Thailand.  It will represent the nation to rival mega developments in other countries as it showcases important values of Thailand’s best characteristics in a world-class project through supportive assistance of the whole Thai people in terms of bringing Thailand’s best values to ICONSIAM, creating important values for the project. Meanwhile, ICONSIAM will also bring together the best of the world, making it truly a world-class project.

    12 Unrivalled components of ICONSIAM

    ICONSIAM unveiled the glamour of two retail and entertainment complexes which cover a combined area of 525,000 square metres and comprise the following unrivalled components:

    1. The Best in Stunning Architecture

    The two retail complexes of ICONSIAM – ICONSIAM and ICONLUXE – are closely associated with cultural values and beliefs tied to the Chao Phraya River, including inspirations from ‘krathong’ and ‘baisri’.  The ICONSIAM building is a highly modern building with its architectural design inspired by the way a krathong is folded, translating traditional Thai design signatures to modern interpretations.  The ICONLUXE complex resembles three glass krathongs with the façade stretching 300 metres along the river. A special glass is used to create vertical pleats all over the complex setting a new precedent.  The design is inspired by a traditional Thai dress with a pleated shawl that wraps the most valuable part of the project because ICONLUXE represents the ultimate in ICONSIAM’s elegance.

    1. The Best in the ICONS within an ICON Design Concept

    ‘ICONS within an ICON’ is the construction of many small buildings within a large building.  ICONSIAM showcases a group of buildings each with a 360-degree façade like a mansion that elegantly offers the best Thai brands and luxury brands from around the world.  It is the first time such a concept is brought to life.

    1. The Best in Awesome Spectacles

    River Park is an area for riverside activities.  Covering over 10,000 square metres, it will help visitors to access and enjoy the landscape along the river as never before.  The space is ideal for large-scale national events and world-class performances in a most beautiful and enchanting site on the banks of the Chao Phraya River.

    A multi-media water-and-fire feature, worth Bht 400 million, will present a great spectacle along the 400-metre stretch of the Chao Phraya River, the longest in Southeast Asia, for visitors to enjoy an awesome experience.

    1. The Best in Creative Thai-ness at Venice of the East

    ICONSIAM will bring together the best in Thai brands in all categories from fashion to handicrafts to must-buy items from all of the 77 provinces of Thailand.  Visitors can explore the whole of Thailand at ICONSIAM.  They will be able to enjoy an exciting experience at the first indoor floating market as well as impressive and enjoyable services found only in Thailand along with rare art and cultural performances within an over 8,000-square-metre area.

    1. The Best in World-Class Luxury at ICONLUXE

    ICONLUXE – the icon of exquisiteness, the centre of world-class luxury – will have the best in world-class brands in all categories, including fashion, jewelry and timepieces.  Each brand will be housed in a globally iconic store in a way that has never been done before in Thailand.

    1. The Best in Priceless Art, Culture and Heritage

    ICONSIAM Heritage Museum which covers over 8,000 square metres is Thailand’s first world-class museum complex bringing together the historical and cultural heritage of the country in one place.  It is the result of a collaboration between ICONSIAM, The Fine Arts Department – Ministry of Culture, and The Treasury Department – Ministry of Finance.  The museum will showcase valuable artifacts of Thailand from different eras together with touring exhibitions of masterpieces from around the world, including contemporary artworks from Thai artists.  It has integrated the most advanced exhibition technology, world-class security and conservation standards for important artifacts.

    Thai Character through Masterpieces from National and World Artists

    ICONSIAM’s interior decoration is the result of a collaboration with many national and world artists who channel Thai beliefs and traditions into their masterpieces that are placed throughout in the form of statues, paintings, carvings, and chandelier inspired by the shape of woven garlands.   The complex will be spectacular.  ICONSIAM will be the first to bring together a large number of priceless artworks and masterpieces.

    1. The Best in World-Class Entertainment

    The world-class auditorium is an essential component of ICONSIAM.  The 3,000-seat venue will be Thailand’s first such facility at world-class standards, and which will also be Asia’s technologically most advanced, as well as the centre for international conferences, which will help Bangkok attract the world’s most sought-after A-list singers and performers.

    The 10,000-square-metre cineplex at ICONSIAM will be a ‘first’ and the country’s technologically most innovative of its kind with the latest projection and sound equipment as well as the newest concepts in layout and seating that will ensure visitors the ultimate movie-going experience.

    The world of entertainment for family and children which covers 4,000 square metres will be the first time in Thailand where children can experience state-of-the-art excitement.

    1. The Best in a Complete Range of Products and Services

    ICONSIAM brings together 500 retailers who offer the best in ASEAN and the best from every corner of the world into the same venue.  For more than 20% of these retailers, ICONSIAM will be their first ever presence in Thailand.

    The project will also have Thailand’s first massive sport complex built on a rooftop garden.  It will come complete with an Olympic-sized outdoor swimming pool and a running track with a view of the sky over both sides of Bangkok.

    1. The Best in Department Store

    Takashimaya, one of Japan’s most iconic department stores, covering 35,000 square metres, will open its first store in Thailand at ICONSIAM.  As one of the world’s best department stores, it offers a full line of luxury brands from Japan, as well as top Thailand’s brands including cosmetics, ladies’ wear, ladies’ accessories, men’s wear and accessories, lifestyle products, as well as premium food and beverage offerings.

    1. The Best in Dining Aesthetics

    ICONSIAM will bring a 3-Michelin star restaurant for the first time to Thailand and will have some of world’s famous restaurants brands that have never had a presence in Thailand.  It will have also the best food offerings from all 77 provinces in Thailand and offer a vast choice of dining atmospheres such as a riverside terrace, in a heavenly park inside the building or on the rooftop where a wide range of bars will also be located.

    1. The Best in Communication Innovation and Service

    ICONSIAM will introduce the most advanced and most comprehensive communication infrastructure using the fastest fibre optics in Thailand and the most innovative communication package. There will be an application that provides more than 1 million tales and legends that inspired art and decoration within the building, shops, and services. Customers will be able to understand and be a part of retelling such stories.  All of these will allow us to deeply understand the needs of customers and to easily manage their experiences while enabling us to meet all their lifestyle preferences all the time.

    1. The Best in Comprehensive Travel Convenience

    As a mega phenomenon of the era, ICONSIAM is the first project to support the Bangkok Municipality’s visionary plan, a feeder lines of the mass rapid transit system, namely the Gold Line, which will be connected to the Green, Red and Purple Lines.  In the area, four piers will be built to support water travel via private yachts, tourist pleasure boats and ferries to and from 73 surrounding piers.  ICONSIAM will be the most complete connection hub for all modes of transport in Thailand including land, rail and water.

    Creating Phenomenal Success in the Real Estate Industry

    A New Record in the Most Expensive Riverside Residences

    ICONSIAM launched Magnolias Waterfront Residences at ICONSIAM – the most luxurious residential condominium development in Thailand by the Chao Phraya River.  It ranks among the best residential developments in the world in its standards.  The project offers 379 residences on 70 stories.  Each unit is built and fitted out with the most luxurious materials.  The building has luxury designed right into it, with the highest quality even in the non-visible engineering elements, components and mechanisms.  Within only 2 months in 2014, the whole project was sold out.  It also broke a record for being the most expensive residential project by the Chao Phraya River.  Its prices are comparable to those of luxury condominiums along the BTS mass transit lines on Sukhumvit, Phaholyothin and Ratchadamri roads.

    The Best in World-Class Residence: The Residences at Mandarin Oriental Bangkok

    In 2014, ICONSIAM announced a partnership with Mandarin Oriental Hotel Group to brand and manage 146 super-luxurious residences in a 52-level condominium called The Residences at Mandarin Oriental Bangkok.  Located in the ICONSIAM project, the Residences are the first ‘Mandarin Oriental’ branded residences in Southeast Asia and the 14th in the world.  They are designed and built with the highest standards of luxury, project management and residents’ services and facilities.

    Last year, ICONSIAM began pre-sales for the riverfront residential project.  It is the most expensive residential project in Thailand with prices to rival condominiums in prime locations of London, Hong Kong, Singapore and Japan.  To date, about 40% of the residences have been booked by Thai and international customers

    “The unveiling of ICONSIAM’s two retail complexes will be a game changer that shifts Bangkok’s retailing hub to the new location by the Chao Phraya River, which has all you can ask for,” Mrs. Chadatip said.

    ICONSIAM represents a new chapter in the history of Thailand’s property development.  It creates a new benchmark for all-around excellence and a new paradigm for the industry with the building of a city that brings together a complete range of residential, retail and cultural offerings at the highest international standards.

    ICONSIAM is a shining example of a Thai property developer showing the courage to make an investment, whether it be in the commercial components and the Seven Wonders at ICONSIAM, to bring to life a genuine, world-class development.  ICONSIAM has proven success beyond expectations for its residential component.  Its retail component has been recognized the world over, even though it has yet to be formally launched.  All of this is testament to the confidence in the country’s economy.  It shows Thai entrepreneurs’ resilience while showing the potential of the Thai market and the purchasing power of Thai people who can support such a world-class development.  ICONSIAM is a major step forward to elevate the stature of Bangkok as one of the most desirable cities to invest for international entrepreneurs and to live for people from around the world.

    Decision to Invest in ICONSIAM Phase 2 in Response to Strong Tenant Demand 

    Mrs. Chutrakul informed that, “ICONSIAM has discussed the project’s concept with major retailers worldwide.  All of them have expressed their confidence and indicated their intention to book retail space for the largest iconic flagship stores in Thailand.  As a result, ICONSIAM has decided to invest in the second phase of the project in response to the overwhelming demand and support it has received.  We have leased land on the opposite side of Charoennakorn Road to expand the total property size to 55 rai.  We have increased the total investment budget by a further Bht 4,000 million to Bht 54,000 million.  Details on the investment will be shared later within this year.”

    ICONSIAM will start renting out space in its two retail complexes from now onwards and plans to announce anchor tenants within the first three months of this year.

    “Despite the world’s economic uncertainty, we are proceeding with the project at full speed.  We increased our investment because we have confidence in Thailand. ICONSIAM will make a great contribution to the country support the economy of Thailand.  It is also pilot project that links with the public sector, with us planning to support mass transit systems as well as urban development and urban regeneration.  The project will attract substantial investment from international investors and retailers.  When it opens, the project will be able to create more than 350,000 jobs within 5 years from the beginning to the opening of the project.  ICONSIAM will play an important part in strengthening the tourism industry in the long term.  It will also further reinforce Thailand’s leadership in the ASEAN Economic Community,” Mrs. Chadatip concluded.

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  • WearYouWant presents a five-step guide to safe online shopping

    WearYouWant presents a five-step guide to safe online shopping

    WearYouWant, Thailand’s leading online fashion and beauty marketplace has created a five-step guide to smart shopping online for Thai consumers, with useful information on how to shop safely through reputable e-commerce sites.

    WearYouWant Co-Founder and CEO, Julien Chalté acknowledges that e-commerce in Thailand is still in its infancy and would like to guide Thai consumers into making smarter decisions when shopping online.

    “We are very aware that we are a part of a fairly new industry in the midst of enormous growth which does not enjoy the same immediate trust as our offline peers. Therefore, it is important for WearYouWant, as one of the leading players in the vertical markets, to take responsibility and provide our customers with a seamless and genuinely safe shopping experience all the way.  We offer a simple five-step guide to shopping safely online in the hope that more Thai consumers will enjoy online shopping – hopefully little by little spurring the e-commerce industry in Thailand to become the regional frontrunner.”

    Agreeing with Chalté, Pawoot Pongvitayapanu, President of the Thai e-Commerce Association highlights how the WearYouWant’s anti-cybercrime checklist is an invaluable guide. “There has been a huge rise in e-commerce in Thailand and this is positive news for online retailers attracting Thai consumers, as well creating more choice for customers.  However, the Thai e-commerce industry is still new and presently constitutes a fairly small part of retail as a whole. Alongside this expansion, we need greater education towards consumers to expand consumer knowledge about e-commerce and shopping online in general. The five-step guide from WearYouWant can help us all and we see it as incredibly useful.”

    The five-step guide:

    Step 1: Check for clear contact information:  Whilst a web shop may not have a physical retail outlet, credible e-commerce sites do have easily visible contact information. If contacts are difficult to find or simply not shown then proceed with caution. Look for a local Thai contact with a phone number or an email address and other company details for an international business.

    Step 2: Check for spelling mistakes and language problems:  E-commerce sites that are not legitimate are often full of glaring errors. This may not be an issue with a tourist site, but for an online shopping site, bad spelling and weird sentence construction should be a red flag. If a site is not an authentic e-commerce site, then it may be created quickly, using a simple translation tool. Check out the pages which list the conditions of purchases too, as well as the ‘about us’ page. Information about employees and photos can be a good indication of authenticity.

    Step 3: Check payment certifications:  E-commerce sites always display logos showing secure payment methods, such as PCI and Norton. The logos should be crisp, clear and recognizable. If there are blurred edges or if a certification has never been heard of before, it is advisable to be cautious. The rule is, if in doubt do not enter your payment details. Quite often a quick search online will reveal methods used by cyber criminals, such as company names regularly used and methods.

    Step 4: Check the company out on Google: Search engines are a shopper’s ally when it comes to investigating companies online. Simply typing in the business name into Google or any search engine should reveal some details which validate the business. This could range from the site and products being reviewed, advertised in various locations through sponsored links and mentioned in press releases and articles. Forums and social media sites can be great platforms to discover any negative experiences associated with a company and/or its founders.

    Step 5: Check common sense warnings: Instinct, logic and experience of online browsing are good indicators of whether an e-commerce site is the real deal and the products on sale are authentic. The golden rule is that while there are some amazing offers online, if a deal seems too good to be true, and then it probably is. Shoppers need to be realistic about offers in relation to the expected price of certain brand names and quality products. 

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  • Starbucks baristas vie for best of Asia honour

    Starbucks baristas vie for best of Asia honour

    Starbucks baristas from across Asia took part in the first Regional Barista Championships in Hong Kong.

    The contest, held before more than 600 spectators, drew 2000 entries from markets including China, Thailand, Hong Kong, Malaysia, Japan and Indonesia before the field was narrowed to the final 14.

    Finalists were judged on coffee knowledge, beverage mastery and customer service. Each partner had 20 minutes to demonstrate technical and communications skills, craftsmanship and knowledge of the barista profession.

    “Our judges group, made up of eight partners and one guest who is an accredited global coffee-competition judge, was immensely impressed and inspired by the professionalism and passion demonstrated by the final competitors,” said Major Cohen, senior project manager, Starbucks Global Coffee.

    The top three partners from round one of the finals were:

    • Nopparat “Yong” Arpornsuwan who joined Starbucks Thailand in 2002 as a part-time barista and is currently the store manager at the Baan Chart Khaosan Starbucks in Bangkok. She has a personal connection and understanding of coffee, having grown up near coffee farms in Thailand.
    • Hirokazu Terasaki of Japan, who joined the global coffee giant because of the friendly service culture a year ago. He is now an assistant store manager at the Maguro store in Japan.
    • Ryan Wibawa of Indonesia, who became a part-time barista with Starbucks in 2011 and just two years later was designated as a Coffee Master. Now a full-time shift supervisor at the first Starbucks Reserve store in Indonesia, Wibawa earned first-place honors in the first Indonesian Brewers Cup Championship finals in November 2015.

    Starbucks partners from China and Asia Pacific region finalists in the first Regional Barista Championships in Hong Kong. From left: Wibawa, Terasaki and Arpornsuwan.

    Arpornsuwan took top honors, based on her “perfect execution, personal storytelling and knowledge of coffee sourcing,” to become the first Starbucks Barista Champion. She was awarded a first-place trophy, a hand-crafted leather roaster brewers kit complete with coffee and accessories, and a three-week coffee experience in Seattle, which will include a visit to the first Starbucks at Pike Place Market and a tour of Starbucks Reserve Roastery and Tasting Room.

    Starbucks will celebrate additional barista champions across the globe in 2016. The company will host the Europe, Middle East and Africa Barista Championships and US Barista Championships later this year.