Retail News CRM

Tag: Thailand

  • Thaicom to offer 5G satellite backhaul

    Thaicom to offer 5G satellite backhaul

    Thai satellite operator Thaicom aims to carve out a new revenue stream by offering satellite backhaul capacity to the nation’s operators for their upcoming 5G networks.

    Thaicom chief commercial officer Patompob Suwansiri said that satellite will be critical to the future of 5G networks.

    According to the executive, Thaicom is currently working with operator AIS, an affiliate of its parent company InTouch Holdings, to prepare for the transition. The company already provides transponder capacity for backhaul for AIS, as well as TrueMove and operators in several other Asian nations.

    The company is looking to replace the revenue that will be lost as a result of the exit of seven Thai digital TV channels in August.

    Thaicom’s concession to operate three of its five satellites will also expire in 2021, but the company is planning to bid to obtain the operating rights to the satellite under a public-private partnership model for after the rights expire.

    While satellite will not be able to deliver the low latencies expected for 5G networks, Patompob said around 80% of data traffic usage in the 5G era will be from applications that do not require low latency and will, therefore, be suited to satellite backhaul.

    Lees ook:

    Lees ook:

  • NBTC finalizes terms of 700-MHz auction

    NBTC finalizes terms of 700-MHz auction

    Thailand’s National Broadcasting and Telecommunications Commission has finalized the proposed terms of next month’s 700-MHz auction, and has briefed the prime minister on the progress with the sale.

    The regulator plans to commence the sale of three slots of 700-MHz spectrum on June 19,.

    The three slots will each have a base price of 17.584 billion baht ($555.05 billion) for 10MHz of bandwidth, which can be payable in up to 10 installments.

    Last month the NBTC announced relief measures for the three owners of 900-MHz licenses by agreeing to split the license fees into 10 installments instead of the current four. But a condition of taking advantage of the larger number of installments will be purchasing one of the 700-MHz slots.

    According to the report, the three 900-MHz license holders – AIS, TrueMove and dtac – have expressed an interest in taking advantage of the relief measures, but are waiting on more terms of the 700-MHz allocation before making a decision.

    But True Move has previously indicated it does not plan to take part in the 700-MHz auction, although it has been pushing for an extension on its 900-MHz license payments.

    Proceeds from the sale will be used to compensate six digital TV broadcasters which have agreed to return their licenses to the regulator.

    A public hearing on the draft terms of the 700-MHz allocation will be held next week.

    Lees ook:

  • AirAsia Opens Jakarta-Phuket Route

    AirAsia Opens Jakarta-Phuket Route

    “Currently the traveling trend continues to increase especially in the youth market, hence demand to open unique routes is increasing as well,” said AirAsia Indonesia president director Dendy Kurniawan.

    Phuket is one of Thailand’s biggest islands in the southern side and boasts various destinations, such as Phi Phi Island, Big Buddha statue in Chalong and Phuket Old Town. The carrier is currently offering promotional fares from Rp 583,000 (US$40.35) one way that can be booked until May 26 for a travel period between July 2 and Oct. 25.

    Other direct flights served by AirAsia from Thailand to Indonesia are Jakarta-Bangkok, Medan-Bangkok and Denpasar-Bangkok.

    Lees ook:

  • Online food store Grain Expanding Rapidly

    Online food store Grain Expanding Rapidly

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

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

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

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

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

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

    Lees ook:

  • Thai AirAsia parent Q1 operating profit halves

    Thai AirAsia parent Q1 operating profit halves

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

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

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

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

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

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

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

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

    Lees ook:

  • Thailand acquisition boosts BreadTalk Turn Over

    Thailand acquisition boosts BreadTalk Turn Over

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

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

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

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

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

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

    Lees ook:

    Lees ook:

    Lees ook:

  • Takashimaya After Opportunities in South East Asia

    Takashimaya After Opportunities in South East Asia

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

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

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

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

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

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

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

    Lees ook:

    Lees ook:

    Lees ook:

  • Allianz Completes Strategic Partnership Deal in Thailand

    Allianz Completes Strategic Partnership Deal in Thailand

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

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

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

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

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

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

  • Thai Airways celebrates 59 years of operations

    Thai Airways celebrates 59 years of operations

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

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

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

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

    Lees ook:

    Lees ook:

  • UOB Launches Comparison Website for Utilities

    UOB Launches Comparison Website for Utilities

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

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

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

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

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

    Lees ook:

  • Central Phuket opens luxury VIP Zone

    Central Phuket opens luxury VIP Zone

    Thai property developer and the operator of Central Phuket shopping centre, CPN, has celebrated a new luxury zone with the launch of a range of world-class brands.

    The company says the new stores are being introduced in line with “the rapid growth and high demand of the affluent world tourist market in support of Thailand’s tourism industry’s move to elevate Phuket city as a global beach lifestyle destination comparable to the French Riviera, Miami, and Hawaii”.

    “As a global player, we aim to elevate Central Phuket to become one of the most complete travel destinations in the world,” said CPN deputy CEO Wallaya Chirathivat. “Central Phuket has the concept of ‘The Magnitude of Luxury & Leisure Resort Shopping Destination’ in the form of a ‘Beach Lifestyle’, which perfectly matches with Phuket as a beach city comparable to the world’s greatest beach cities. We truly appreciate that the global luxury brands have placed trust and confidence in our project as the first luxury mall located outside Bangkok, Thailand.”

    To mark the occasion, Central Phuket held a grand celebration entitled “The Unveiling of the New World of Luxury” highlighting the prestigious “Universe of Sirivannavari: The First View from Paris to Phuket” exhibition. HRH Princess Sirivannavari Nariratana allowed the exhibition to be held for the first time in Thailand at Central Phuket Floresta from April 28 to May 26.

    Lees ook:

  • Honestbee running out of Funds

    Honestbee running out of Funds

    Innovative startup runs out of cash; suspends Hong Kong and Thai operations. Honestbee is freezing operations in Hong Kong and Thailand and laying off staff as it urgently seeks investment to stave off collapse.

    According to an in-depth, citing multiple industry sources, the Singapore-headquartered food-delivery business turned innovative food-and-grocery retailer has nearly run out of money and is unlikely to be able to pay staff this month.

    “From talking to several former and current staff, Honestbee is laying off employees, it has a range of suppliers who are owed money, it has “paused” its business in the Philippines, it has closed R&D centers in Vietnam and India, it isn’t going to make payroll in some markets and a range of executives have quit the firm in recent months,”.

    However, the potential for the sale or rescue of the business is high. The company has held talks with Grab and its rival GoJek over the potential acquisition of all or part of the business.

    Honestbee was founded four years ago. Its core business concept is using store pickers to shop for groceries at various food retailers, with orders completed on apps and shipped by delivery staff to consumers. It operates in Hong Kong, Taiwan, Thailand, Indonesia, the Philippines, Malaysia and Japan, as well as its home market. In suburban Singapore it has opened a technology-run physical retail store listed this month as one of the world’s ‘must-see’ stores.

    Honestbee’s dire predicament is the result of high marketing costs faced by most online startups in Asia: building critical mass takes massive investment in digital marketing, discounting and – especially in the case of delivery apps – recruitment.

    We have been shown financials for the company from last December which showed revenue of S$2.5 million (US$1.8 million) and a loss of $6.5 million on transactions totalling $12.5 million.

    About 80 per cent of the company’s revenue comes from Singapore, Taiwan and the Philippines.

    Honestbee issued a statement earlier this month attempting to put a positive spin on its perils, saying the decision to “temporarily” suspend its food verticals in Hong Kong and Thailand followed a strategic review of the company’s business, so it could “simplify what we do and how we do it to better meet what our consumers want”.

    The company said 6 per cent of its global staff would be laid off.

    “The status of Honestbee in the remaining markets remain unchanged as we evaluate and we will continue to operate and contribute to Honestbee Pte Ltd.”

    In addition to the layoffs announced, senior management have already left the company in the Philippines, Japan and Indonesia.

    Lees ook:

    Lees ook:

    Lees ook:

  • Julius Baer Starts to Serve Thai Wealthy Individuals

    Julius Baer Starts to Serve Thai Wealthy Individuals

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

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

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

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

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

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

    Lees ook:

  • NEXT BLOCK ASIA + Fabulous Bangkok After-Party

    NEXT BLOCK ASIA + Fabulous Bangkok After-Party

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

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

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

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

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

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

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

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

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

    Media contacts: Heena Gupta heena@coinadvice.org, +91 965 439 47 97
    Svitlana Kokarieva svitlana.k@kryptonevents.com, +38 063 213 12 12

    Lees ook:

  • Giordano sales down in China

    Giordano sales down in China

    Giordano sales in Greater China plunged by 17.7 per cent during the first quarter, dragging group-wide sales down by 10.8 per cent, or 8.5 per cent on a constant currency basis.

    In a stock exchange filing on the eve of the holiday weekend the casual apparel retailer blamed the downturn on “uncertainty stemming from the Sino-US trade dispute and abnormally warm weather”.

    Giordano sales in Indonesia, Thailand and Vietnam remained stable during the quarter, and in the fledgling Middle East market rose by 10 per cent to HK$80 million, slightly compensating for the heavy impact of China.

    By market, Mainland China sales fell from $378 million to $295 million, in Hong Kong and Macau from $248 million to $225 million and in Taiwan from $201 million to $161 million. In the rest of Asia-Pacific, they declined from $422 million to $398 million.

    In the three months to March 31, inventories rose from HK$507 million to $512 million.

    During the quarter, Giordano closed two stores in Hong Kong and Macau and reduced directly operated stores on the mainland by 31, but opened 19 franchised outlets.

    Lees ook: