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Tag: Thailand

  • Kasikorn enhances the role of Thai-Myanmar Border Trade Business Center

    Kasikorn enhances the role of Thai-Myanmar Border Trade Business Center

    Kasikorn Bank (KBank) teams up with Kanbawza Bank (KBZ Bank), Myanmar’s largest bank, to implement a staff exchange program of Mae Sot-Myawaddy, aimed at boosting Thailand-Myanmar border businesses. Focus is made on import-export settlements via banking system and promotion of cross-border funds transfer via Mae Sot Border Trade Business Center, which is aimed to increase to about THB200 million.

    Mr. Kittichart Potithat, First Vice President for World Business Strategy and Marketing Management Department, KBank, said the bank has always placed importance on Myanmar market, given a large volume of border trade with Thailand. With an aim to facilitate investors and business operators in the border areas, KBank’s Border Trade Business Center was set up in Mae Sot, Tak. To date, the center has granted credits of more than THB150 million to businesses in Mae Sot for investment in Myanmar, completed 10 successful cases of business matching and organized various seminars to share knowledge on trade and investment, in order to promote trade and financial transactions between the two countries.

    Recently, KBank expanded the cooperation with KBZ Bank by sending KBank’s staff to work at Myawaddy branch of KBZ Bank and in turn accepted KBZ Bank’s staff to work at Mae Sot branch of KBank for one year. This cooperation should enable KBank to gain in-depth expertise about business operational format and banking regulations in Myanmar, as  well as consumer insight in using financial services of Myanmar consumers. Moreover, KBank staff under this staff exchange program can help advise Myanmar entrepreneurs on how to conduct financial transactions in Thailand, thus allowing both Thai and Myanmar entrepreneurs to conduct border trade transactions more smoothly.

    It has been found that Thai SMEs still need help to understand more about Myanmar’s banking system and reliable channels in seeking business partners in Myanmar, while Myanmar SMEs want to use financial products and services of Thai banks, but have been limited by communications barriers. Therefore, it is hoped that this cooperation will help enhance knowledge and understanding about financial and border trade transactions between the two countries. In 2018, KBank will offer financial facility to support border trade as always, focusing on cross-border money transfer service. KBank will also place a greater emphasis on cross-border funds transfer to promote import-export settlements via regulated banking system because nearly 100 percent of such transactions now are settled through non-regulated system. KBank is targeting an increase in Thai cross-border funds transfer transactions to Myanmar via KBank’s Border Trade Business Center at Mae Sot branch to about THB200 million in 2018.

    In addition to cross-border trade, KBank has always placed emphasis on businesses in Myanmar. KBank and KBZ Bank have also jointly developed cross-border payment services, namely funds transfer in local currency and Myanmar Worker Remittance service to enable Myanmar workers in Thailand holding KBZ Bank account to transfer money back to Myanmar more conveniently by simply scanning the barcode of their Myanmar Remit Card at KBank ATM machines.

    Moreover, KBank teams up with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to host the annual “SME Capacity Building Program” seminar to enhance the capacity of SME entrepreneurs in Myanmar. The seminar is aimed at equipping them with knowledge about business operations and internal work processes to prepare for their business expansion, as well as preparation of financial statements in compliance with international standards for use in loan application. Since 2016, the seminar has been held in six main cities including Yangon, Myawaddy, Bago, Mawlamyine, Myeik and Taunggyi.  So far, over 600 Myanmar entrepreneurs have participated in the seminar. This year, the activity will also be held to fortify Myanmar entrepreneurs amid flourishing cross-border business and investment.

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  • Thai mall operator profits up 47 percent on tourism boom

    Thai mall operator profits up 47 percent on tourism boom

    Thai retail property developer Central Pattana Pcl (CPN) reported net profit of 13.6 billion baht ($432.3 million) for its 2017 fiscal year on Wednesday, up 47 percent from a year earlier.

    CPN beat estimates of 12.1 billion baht based on a survey of 11 analysts.

    CPN, which operates 32 shopping malls in Thailand, has been one of the main beneficiaries of the country’s tourism boom, led by Chinese arrivals.

    More direct flights from China, a visa fee discount and waiver incentives led to strong inbound tourism, CPN said in a statement.

    Thailand received 35 million tourists in 2017 and expects 37.55 million arrivals this year.

    Revenue from rent and services were up 3.2 percent from the year earlier, reaching 26 billion baht.

    Average occupancy rates in its retail properties stood at 92 percent, lower than 94 percent a year earlier due to major renovations.

    CPN, part of Central Group, owned by the billionaire Chirativat family, plans a compound annual growth rate of at least 13 percent until 2022 focusing on mixed-use and residential developments, increasing rental rates and new malls in Southeast Asia.

    Hotel revenue grew 10 percent to 1.1 billion baht, with an average occupancy rate of 93 percent, up from 83 percent a year ago, due to a higher number of tourists, it said.

    CPN expects its new mall on the tourist island of Phuket to open by mid-year and another mall in Malaysia to open by year-end.

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  • Thai low-cost carrier Nok Air pins turnaround on more China, India flights

    Thai low-cost carrier Nok Air pins turnaround on more China, India flights

    Nok Airlines Pcl, the struggling low-cost subsidiary of Thai Airway International Pcl, aims to turn around operations by growing international revenue with more flights to China and India, a top executive said on Monday.

    The carrier, which posted a loss of 1.85 billion baht ($58.95 million) last year, aims to increase revenue by 3 billion baht this year from 20.4 billion baht in 2017, by carrying 9 million passengers, 4 percent more than a year prior, Chief Executive Piya Yodmani said.

    He also said the carrier aims to increase revenue from international operations to 40 percent of its total from 20 percent a year earlier.

    Piya, who took over as CEO in September after the resignation of Patee Sarasin, said Nok targets aircraft utilization of 12 hours, up from 10.4 hours in 2017, with more red-eye flights and routes in China to boost earnings as Chinese tourist arrivals surge in Thailand.

    “We are waiting for approval to fly into three cities in India with the possibility of increasing routes there,” Piya said.

    Hotel and retail groups are among the main beneficiaries of a Thai tourism boom, while Thai airlines struggle with competition and fuel costs.

    Nok is deferring delivery of 8 Boeing Co 737-MAXs to next year through 2021 due to a “red ocean of competition,” Vice President Surachart Angkasuwan said.

    Tourism accounts for about 12 percent of Southeast Asia’s second-largest economy, with the country expecting 37.55 million arrivals this year, up 6.1 percent from 2017.

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  • Visa now accepted at all 7-Eleven stores nationwide

    Visa now accepted at all 7-Eleven stores nationwide

    Visa, the world’s leader in digital payments, announced the complete rollout of credit card acceptance at all 7-Eleven convenience stores nationwide.

    Expanding acceptance points is crucial to the National ePayment Plan and will help accelerate Thailand on the journey to become a full-fledged digital economy. The program was first piloted last year in selected 7-Eleven stores with high tourist traffic and has since gradually branched out across the country.

    Suripong Tantiyanon, Country Manager, Visa Thailand said: “The partnership between Visa, Thai Smart Card and 7-Eleven is an important chapter in the digital transformation of commerce in Thailand. It is an exciting milestone for our cardholders, who can now pay with any Visa credit card, including contactless, when shopping at 7-Eleven. It is a great opportunity for more people to experience the convenience and security of digital payments.”

  • Siam Piwat lighted up Lunar New Year with performances

    Siam Piwat lighted up Lunar New Year with performances

    Siam Piwat Co., Ltd., owner and operator of Siam Paragon, Siam Center, and Siam Discovery, unites the three shopping centers under the banner of “One Siam” to host “Siam Delightful Chinese New Year” with a generous budget of 50 million Baht. On the theme of “Lantern Festival”, the event has illuminated with 999 dazzling sculpted lanterns that symbolize prosperity to welcome the Chinese New Year. The grand spectacles from China and fortune-enhancing activities are in the line-up to promote Chinese art and culture and further strengthen Sino-Thai relations. Also featured on the occasion are special offers, co-sponsored by Kbank Credit Card, for Thai and Chinese visitors during the Chinese New Year. The festivities are slated to run from today to 18 February 2018 at Siam Paragon, Siam Center, and Siam Discovery.

    Mayuree Chaipromprasith, Senior Executive Vice President – Marketing of Siam Piwat Co., Ltd. reveals “To promote the tourism sector during the Chinese New Year which is a festival of joy for both Thais of Chinese descent and Chinese tourists visiting Thailand, the three shopping centers at Siam area, consisting of Siam Paragon, Siam Center, and Siam Discovery, unites under the banner of “One Siam” to hold “Siam Delightful Chinese New Year”. Each venue promises a motley range of lively activities, highlighting the image of One Siam as a popular destination for holidaymakers from all over the world. This year, we bring to you a special treat of “Digital Angpao (Red Envelope)” so that you can give your blessings away via such platforms as Facebook and our website. A variety of prizes including gift cards and discounts are also up for grabs. Another way to join in the fun is by downloading our AR application called Flash Venture to find and catch all of the 12 Chinese zodiac animals scattered throughout the three shopping centers.

    On the opening day 15 February 2018, Her Royal Highness Princess Ubolratana Rajakanya Siri Vadhana Phannavadi personally graciously visited the festivity and watched the show welcoming by Pasinee Limatibul, Board of Director of Siam Piwat Co.,Ltd and executives of the company. The event was also joined by celebrities such as Kleddao Panichsamai, Sopitnapa Chumpanee, MR Chanladda Yukol, Prakarn Raiva, Wantita Liewchalermwong, Lina Leenutaphong, Pimpisa Chamanan, and Chutimon Chuengcharoensukying. Moreover, there were a phenomenal line-up of spectacles such as Chinese New Year Drum, a drum show fronted by starlet Nicha Nattanicha, interspersed with a graceful dance performed by native Chinese dancers and a Chinese lion dance featuring Mario Maurer, the biggest Thai heartthrob for Chinese fans. We are committed to bringing you joy and happiness over the Chinese New Year and this is our New Year gift for you.

    From today until 18 February 2018, at Parc Paragon of Siam Paragon, you will be impressed with 999 colored sculpted lanterns symbolizing prosperity and wealth. The installations in the shape of 12 Chinese zodiac animals measuring 2.5m in height dot the open space dwarfed by the 5-meter-tall dog-shaped centrepiece marking the Year of the Dog. Meanwhile, the Chinese Cultural Center of Thailand has joined hands to bring in a host of unforgettable productions involving an exuberant blending of China’s unique ethnic culture with Han Chinese influences. The shows, delivered by over 100 members of performance crews from the city of Hangzhou, in Zhejiang Province, China, include a graceful style of various dances, the jaw-dropping Kongzu acrobatics, and displays of ancient Chinese magic. The festival will also present a showcase for music played with Suona, a Chinese traditional musical instrument.

    Explore Chinese culture and dive into a whole heap of immersive experiences by sitting back and relaxing in our reproduction teahouse or ornamenting yourself with ancient Chinese outfits topped with Chinese makeup looks brought to you by professional makeup artists. Feel free to take as many pictures as you like to remind you of your fond memories with us. The M Floor of Siam Paragon is adorned throughout with good luck symbols such as red dogs, plum blossoms, and bamboo twigs in the hope that every customer is blessed with wealth, health, and happiness all year round. Don’t miss the giant lantern that stands bright in the Hall of Fame section on the M Floor. Revel in music rendered with Guzheng, Erhu and Xiao. Keep your peepers peeled for demonstrations of rope braiding, courtesy of Huachiew Chalermprakiat University. Admire the lit-up plum blossom-decorated arches spotting the entire area of Parc Paragon.

    As for the cutting-edge Siam Center, it is home to a massive selection of high-end fashion brands and creative artworks. No doubt it is tasked with mounting an exhibition of sculptures, designed by up-and-coming collage artist Nakrob Moonmanas, on the theme of All We Need is Love. All kinds of love, be it familial or romantic, are beautiful and make the world a better place. In celebration of the power of equal love, we are proud to present a collection of lantern-mounted photographs. The pictures interconnected with Chinese-inspired chinoiserie patterns feature couples of various nationalities from all walks of life dressed in red, the symbolic color of good fortune.

    Come experience the wonderful “Siam Delightful Chinese New Year” festival where many vibrant activities are in action. Special offers are up for grabs from today to 11 March 2018. In the meantime, from today until 18 February 2018, keep your eye out for a Chinese lion parade giving out red envelopes loaded with 9 million Baht’s worth of discount coupons and gift cards, courtesy of over 500 popular shops in the three shopping centers.

  • Three Centara resorts are the best hotels for families say TripAdvisor users

    Three Centara resorts are the best hotels for families say TripAdvisor users

    TripAdvisor, the world’s largest travel website, just released its prestigious Travelers’ Choice Awards for their users’ favourite hotels. In the family category, Centara Grand Mirage Beach Resort in Pattaya was ranked #1 in Thailand. Centara Grand Beach Resort in Phuket was #4 and Centara Karon Beach Resort, also in Phuket, was #7.

    “Being family-friendly is part of our company DNA,” said Thirayuth Chirathivat, Centara’s CEO. “We work hard to welcome families with children and offer them a superior holiday experience. It starts with the design of the hotel and continues through family amenities, activity programmes, and service attitude. These awards are evidence we’re succeeding.”

    TripAdvisor gives the awards annually, based on the reviews and opinions of millions of its users. The rankings are based on people who have stayed at each hotel during the past year.

    Centara Grand Mirage Beach Resort was the first true themed resort in Thailand. Its Lost World motif features several swimming pools, waterslides, giant sculptures and palm trees towering over a lazy river and Monsoon Island. Children enjoy the Kids’ Club, E-zone, and organised activities supervised by hotel staff. The resort even has a family version of club level: its Zulu Family Club has a play area for toddlers while their parents enjoy an afternoon refreshment. The resort lies along a 230-metre stretch of sandy beach.

    Like Centara Grand Mirage in Pattaya, Centara Grand Beach Resort Phuket is a 5-star resort built around a waterpark with multiple pools, river, and waterslides. Its Kids’ Club and Camp Safari are complemented by a cliff jumping platform, and water sports in the Andaman Sea including kayaking, sailing, windsurfing and snorkelling. The resort features Sino-Portuguese style and has direct access to Karon Beach.

    Centara Karon Resort is a unique concept for Phuket, featuring four distinct zones so guests can find the perfect match for their needs. Family amenities include rooms that easily accommodate four; three large swimming pools, including the Lagoon pool with two waterslides; and a Kids’ Club, Camp Safari, and E-Zone to keep children and teens entertained.

    This year marks the third time Centara Grand Mirage Beach Resort has won TripAdvisor’s Travelers’ Choice award for family-friendly accommodations. Other Centara resorts in Thailand have received the recognition from TripAdvisor users each year since 2014. Centara was also recently listed among Smart Travel Asia’s Hot 25 Family Hotels.

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  • Centara signs agreement with TreePay for mobile payment solution

    Centara signs agreement with TreePay for mobile payment solution

    Centara Hotels & Resorts, Thailand’s leading hotel operator, yesterday signed an agreement with TreePay Co., Ltd., a specialised payment facilitator, to develop a system to allow Chinese customers to use their mobile phones to pay for accommodations and services at Centara properties. This will begin with Wechat Pay. Chinese tourists are an important market for Centara and mobile payments using apps like WeChat are extremely popular with Chinese consumers. Centara chose TreePay, a collaboration between CAT Telecom, SKT, and NHN KCP, to help it serve its Chinese guests more conveniently. Okura Co., Ltd. will be the project consultant.

    “Our goal to double in size over the next five years will be achieved by serving growing markets better,” said Centara’s CEO Thirayuth Chirathivat. “Our strategies include opening new properties in China as well as attracting more Chinese to our hotels in Thailand and elsewhere. One way we do this is by improving our service infrastructure. Being able to accept mobile payments is an important component.”

    Centara aims to double its number of properties and become a familiar name for travellers throughout Asia, the Indian Ocean and Middle East. The company bases its confidence on a successful formula of Thai hospitality, excellent food, a variety of formats, and family-friendly hotels, in great destinations. It is also investing in technology to serve customers more efficiently through multilingual websites, on their devices, and with high-tech services at Centara hotels.

    The TreePay solution will first be introduced at Centara’s hotels and resorts in Thailand within 2018, then rolled out to the company’s other properties.

    “We look forward to making our destinations more welcoming and convenient for our Chinese guests, and supporting the expansion of Chinese tourism in this region and the world,” added Chirativat.

    Suvicha Nalita, Chief Executive Officer of TreePay (Thailand) Ltd., said “TreePay will be providing China Payment services to Centara Hotels and Resorts, starting with Wechat Pay mobile payments. We aim to become an Omni channel payment facilitator providing a single connection for all payment channels and types. Besides our expertise in payment platforms, we also strive to differentiate ourselves in this competitive market.”

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  • Malaysia’s Central i-City shopping centre to open in 2018

    Malaysia’s Central i-City shopping centre to open in 2018

    Selangor’s Central i-City Shopping Centre is scheduled to open in the fourth quarter of the year.

    A collaboration with i-City Properties, it is the first international regional shopping centre for Thai developer/investor CPN and Malaysia’s i-City Properties.

    Among anchor tenants just announced are Sogo Department Store and Village Grocer. TGV Cinemas will offer the first Imax screen in the region, along with eight digital cinemas seating up to 1800 patrons.

    The project has a gross development value of RM850 million (US$216.6 million).

    CPN Thailand COO Pakorn Partanapat says the goal for the shopping centre is to boost the mall/tenant relationship to ensure a win-win for everyone.

    CPN Malaysia COO Anthony Dylan says the 940,000sqft (87,000sqm) shopping centre will have 350 retail shops over six levels.

  • Greyhound Cafe plan to open more stores abroad

    Greyhound Cafe plan to open more stores abroad

    Nadim Xavier Salhani, the man behind US franchises Au Bon Pain, Dunkin’ Donuts and Baskin Robbins in Thailand, aims now to expand the group’s Greyhound Cafe brand abroad. Greyhound, which has 17 cafes in Thailand and 18 franchises overseas including China, Hong Kong, Indonesia, Malaysia and Singapore, is also planning more acquisitions.

    Already, the company has invested THB150 million (US$4.7 million) to open a 192-seat Greyhound Cafe in London’s Soho district, and has also acquired the 300-year-old Grand Vefour, a Michelin two-star fine-dining restaurant in Paris.

    “We are planning to develop more projects in Tokyo, Hong Kong and Bangkok in the French brasserie restaurant style, at a cost of 40 to 60 million baht each,” Salhani says.

    Meanwhile, he plans to open 12 Dunkin’ Donuts Coffee concept branches this year, including the brand’s first drive-through in Ayutthaya this June. There are also plans to open five Au Bon Pain and five Baskin Robbins outlets this year, taking the total to 300 branches for Baskin Robbins, 80 for Dunkin Donuts and 40 for Au Bon Pain.

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  • Asia boosts growth for L’Oreal

    Asia boosts growth for L’Oreal

    French cosmetics giant L’Oreal reports “spectacular” growth for last year, particularly in Asia.

    It had growth acceleration of 5.5 per cent in the fourth quarter with sales exceeding €10 billion (US$12.2 billion) in the ‘new markets’, which include Asia Pacific.

    Operating margin reached a record 18 per cent.

    Sales were €26 billion, up 4.8 per cent like-for-like, 2 per cent at constant exchange rates and 0.7 per cent on reported figures.

    Representing a record 18 per cent of sales, the operating profit was €4.68 billion.

    “L’Oreal had a good year with sustained sales growth momentum and robust profits,” says chairman/CEO Jean-Paul Agon.

    The second half accelerated compared with the first, particularly in the fourth quarter.

    Sales grew in all divisions, especially L’Oreal Luxe in Asia. The Active Cosmetics Division achieved more than €2 billion of sales for the first time.

    The new markets exceeded more than €10 billion in sales for the first time ever. The Asia Pacific zone had growth of 12.3 per cent like-for-like and 9.2 per cent reported. In Northern Asia, Chinese consumers are driving growth, particularly for the L’Oreal Luxe Division in China and Hong Kong. China’s growth was fuelled by strong e-commerce results. In Southern Asia, India is proving dynamic, while Malaysia and Thailand are also growing strongly.

    Overall, operating profit, at €4.6 billion, has grown by 3 per cent and amounts to 18 per cent of sales, representing an increase of 40 basis points. Excluding exchange rates, operating profit grew by 4.4 per cent.

  • Dusit International now accepts Alipay at its hotels and resorts in Thailand

    Dusit International now accepts Alipay at its hotels and resorts in Thailand

    Dusit International, one of Thailand’s foremost hotel and property development companies, has rolled out Alipay at its hotels and resorts in Thailand to cater to Chinese travellers who prefer to make quick and secure payments via mobile.

    With over 520 million users and counting, China-based Alipay is one of the world’s largest mobile payment platforms which allows its users to pay for goods and services by scanning QR codes on their smartphones or tablets. Its presence is ubiquitous in Chinese cities, where mobile payments are fast becoming a way of life.

    Dusit International already accepts Alipay at all of its hotels and resorts in China. Alongside Thailand, it also plans to roll out the system at its international properties soon.

    “The Chinese market is a key segment for our hotels in Thailand, so it is important our properties are equipped to meet the needs of those who prefer to pay via mobile, now the method of choice in China,” said Mr Lim Boon Kwee, Chief Operating Officer, Dusit International. “Alipay can certainly enrich and enhance the guest experience for all our Chinese travellers.”

    Dusit Hotels & Resorts in Thailand now accept Alipay at their restaurants, spas, participating outlets, and for hotel rooms upon check-out. The properties also accept China’s other major mobile wallet, WeChat Pay.

    Dusit properties in Thailand include Dusit Thani Bangkok, Dusit Thani Hua Hin, Dusit Thani Pattaya, Dusit Thani Laguna Phuket, Dusit Thani Beach Resort Krabi, dusitD2 Chiang Mai, dusitD2 Khao Yai, Dusit Princess Srinakarin Bangkok, and Dusit Princess Chiang Mai.

    Alipay is operated by Ant Financial, an affiliate of Alibaba Group Holding Limited, a Chinese multinational e-commerce, retail, and technology conglomerate which is one of the top 10 most valuable companies in the world.

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  • AEON celebrates Chinese New Year with special gold loans and free travel luggage

    AEON celebrates Chinese New Year with special gold loans and free travel luggage

    AEON Thana Sinsap (Thailand) Public Company Limited celebrates with a special Chinese New Year promotion get gold loans with low interest rates 12 months. And installment gold up to THB 20,000 with all AEON partner stores nationwide will get free 20-inch Caggioni luggage bag worth THB 4,990 or registration for joining the activities from send SMS type CH follow by 12 digits loan account number without space and sending to 4589123.

    Don’t miss out! AEON member cardholders and AEON credit cardholders. This exclusive Chinese New Promotion starts today and runs until March 31, 2018.

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  • AEON Mini Marathon #2 will be held in March

    AEON Mini Marathon #2 will be held in March

    AEON Thailand Foundation together with Ramathibodi Foundation invites all runners and health lovers to take part in “AEON Mini Marathon #2”, to raise funds for the Ramathibodi Foundation in “New innovation to beat cancer”. The AEON run is divided into 2 types which are – the 10.5km mini marathon, and the 5km walk-run for health. The winner will get a trophy cup and medals for all participants.

    For everyone who interested to join the charity event on Sunday, March 18, 2018 from 04.00 am. – 07.30 am at Rama 8 Park, registration costs 500 baht for 10.5 km run and 400 baht for 5 km walk-run. You can also register for the event online, pr for more information, please call 02-689-7188 Thailand number.

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  • Thailand Central Group to pursue online growth

    Thailand Central Group to pursue online growth

    The company with the biggest grip on Thailand’s brick-and-mortar retail market is expecting a partnership with China’s JD.com Inc. to pursue online growth.

    Central Group, which controls Thailand’s biggest operator of shopping malls and department stores, expects online sales to account for as much as 15 percent of its revenue in five years, from 2 percent now. The partnership with JD will help it compete in South East Asia’s booming e-commerce market and also open up businesses opportunities in China, Chief Executive Officer Tos Chirathivat said in an interview.

    With an empire that also includes hotels, supermarkets and restaurants, Central Group is counting on online growth to help drive sales. The company first announced its $500 million joint venture with JD in September 2017, teaming up with China’s second-largest e-commerce operator. Tos estimates that online retail in Thailand could rise fivefold to 10 percent of the market as the country of nearly 70 million develops and access to the web spreads through smartphones.

    “We obviously want to be the leading player in the 10 percent so it doesn’t really matter what kind of percent of the group it is,” Tos said in the Jan. 3 interview at his Bangkok office. “The important thing is to be the leader in the market itself.”

    Central Group and JD are competing in an increasingly crowded market, with Alibaba Group Holding Ltd. expanding in South East Asia through Lazada while Amazon.com Inc. kicked off with a beachhead in Singapore last year.

    Southeast Asia is home to more than 600 million people and the region’s internet economy, which includes e-commerce, online travel and ride-hailing, may grow fourfold by 2025 from an estimate of $50 billion in 2017, according to a joint research report by Google and Temasek Holdings Pte.

    While Central Group is a privately-held investment arm of the Chirathivat family, the company controls a number of publicly traded businesses. Central Pattana Pcl is a mall developer, Central Plaza Hotel Pcl operates resorts and restaurants, Robinson Pcl has a chain of department stores and COL Pcl does office supplies.

    All four gained in 2017, with Central Pattana surging 50 percent in 2017, Central Plaza jumping 47 percent and COL more than doubling, all outperforming Thailand’s benchmark SET Index.

    Outside the country, Central Group owns Italian luxury department store La Rinascente, Danish retailer Illum and in 2016 acquired the Big C hypermarket chain in Vietnam.

    Central Group is targeting annual revenue growth of 13 percent in 2018 based on the company’s five-year strategy plan, said Tos. That number may be higher with mergers and acquisitions, and the company could consider deals in the billions of dollars if the opportunity is right, he said.

    Local sentiment is helping the company, with consumer spending in Thailand picking up after the October cremation of late King Bhumibol Adulyadej ended the nation’s yearlong mourning period.

    “If the trend continues like this then this year should be good,” said Tos.

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  • COCA Restaurant returns to Malaysia after years of absence

    COCA Restaurant returns to Malaysia after years of absence

    Thai dining chain Coca Restaurant is returning to Malaysia with plans to open four outlets in the next three years.

    First up will be an outlet in the Bangsar Shopping Centre in Kuala Lumpur seating about 100 diners and serving an à la carte menu of Thai/Cantonese cuisine along with Coca’s signature hot pot, creative stock broths (including one being created exclusively for Malaysia) and suki sauce.

    Chefs will focus on freshness, including live seafood and premium beef.

    Absent from Malaysia for seven years after a 20-year stretch, Coca returns with a change of partnership and a new strategy to open in upmarket malls as well as introduce freestanding restaurants – a strategy it has used over the past seven years in Thailand, Singapore, Japan, Vietnam and Indonesia.