Retail News CRM

Tag: Thailand

  • Thai Airways International Shares Take A Dive Last Week

    Thai Airways International Shares Take A Dive Last Week

    The President of Thai Airways Charamporn Jotikasthira has told reporters that the full-year target of 180 billion baht is unlikely to be achievable.

    A report posted with regard Thailand’s crackdown on China’s so-called zero-dollar tours has led to a sharp decline in Chinese tourists. These tours were offered below cost, with operators making big profits through kickbacks from affiliated souvenir shops and service providers from which travelers were forced to buy at inflated prices.

    Thai Airways revenue from Chinese passengers has dropped by 25% over the past several months because of this crackdown.

    There are obviously other factors involved as Charamporn also said many economizing steps have not yet been fully implemented, suggesting that the full-year cost-cutting target may also be missed.

    Lees ook:

    Lees ook:

    Lees ook:

  • Thai Kasikornbank Eyes Regional Expansion, Plans 2nd Branch in Laos

    Thai Kasikornbank Eyes Regional Expansion, Plans 2nd Branch in Laos

    Thailand’s Kasikornbank said on Tuesday (29/11) it plans to open a second branch in Laos and upgrade the status of its local bank in China in 2017 as part of a regional expansion.

    With assets of $68 billion, Thailand’s fourth-largest lender by assets is looking to open branches in Vietnam, Indonesia and Myanmar by 2018, Kasikornbank president Kattiya Indaravijaya said in a news conference.

    Loans and assets from foreign operations accounted for less than 5 percent of the bank’s current total loan portfolio, and the proportion is expected to gradually increase over the next few years, she added.

    Like other major Thai banks, Kasikornbank is looking to expand its business in fast-growing economies in Southeast Asia to help offset a slowdown in the domestic market.

    Kasikornbank is aiming at a loan growth of 4-6 percent in 2017 — assuming the Thai economy would grow 3.3 percent next year — and expected its non-performing loans to make up 3.3-3.4 percent of total loans, Kattiya said.

    In the first nine months, the bank’s loans grew 5 percent, versus a target of 6-7 percent for the whole of 2016, she said.

    The bank targets loan growth from retail clients at 5-7 percent next year when the number of it retail customers is expected to rise to 14.1 million, up 5-6 percent on year, the bank’s president said.

    Loan growth for large companies and small to medium sized firms is targeted at 4-6 percent next year, she said.

    Kasikornbank aimed to spend 4 billion baht on developing information technology (IT) next year to maintain its leading position in digital banking, the bank’s president in charge of IT, Teeranun Srihong, said.

    Lees ook:

    Lees ook:

    Lees ook:

  • Shilla Duty Free opens 25,000sq m Phuket store

    Shilla Duty Free opens 25,000sq m Phuket store

    The Shilla Duty Free conducted a soft opening of its new downtown store in Phuket, Thailand at the weekend, which has allowed it to take the next step in its ‘diverse global expansion strategy’, it says.

    As reported, the store was slated to open originally in August, but the South Korean TR operator was actually able to officially add the Kathu district store to its growing international store network on 19 November. The retailer first opened a store outside Thailand in 2012 with its Changi Airport concession in Singapore. Since then Shilla has opened in Macau also.

    This time Shilla has partnered with two local companies (Gems Gallery and The Mall) to operate the store under a ‘GMS Duty Free’ joint venture first agreed in 2013. However the store fascia with carry ‘The Shilla Duty Free’ company name.

    Shilla says it is in charge of ‘general operation of the store including MD and store operation’.

    TWO-STOREY 25,000SQ M STORE

    “Gems Gallery, sole market leader of Phuket’s jewellery market, and The Mall, operator of top-of-the-class department stores and shopping malls in Thailand, are in charge of sourcing of Thailand local goods and marketing,” reveals Shilla.

    Lees ook:

    Lees ook:

  • Samsung Pay, partner banks launch offers for Thai customers

    Samsung Pay, partner banks launch offers for Thai customers

    Samsung Pay and its financial partners have introduced exclusive offers for customers who make payments using a partnered credit card via Samsung Pay, The Nation reports. The offers are provide in partnership with Citibank, Kasikornbank, KTC, and SCB.

    Citibank card owners will have access to 5-fold reward point increase for every payment transaction of THB 1,000 or more. Kasikornbank card users will receive THB 100 cash back on every payment of THB 100. KTC card holders will receive 5 percent cash back with special privileges from participating shops, while SCB users will get THB 100 cash back for payments of THB 200.

    Samsung Pay went live in Thailand on 27 October. The platform enables customers to use their smartphone as credit cards. Supported payment gateways and credit cards for Thai users are Visa and MasterCard issued by six financial institutions namely Bank of Ayudhya, Citibank, KasikornBank, KTC, Siam Commercial Bank, and soon Bangkok Bank.

    In Thailand, Samsung Pay is compatible with the Galaxy S7, Galaxy S7 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy A7 (2016) and Galaxy A5 (2016) smartphones.

    Lees ook:

  • Tech boost for Asia’s rice sector

    Tech boost for Asia’s rice sector

    A new initiative to provide rice breeders across the Asia Pacific region with advanced technologies is expected to help improve crop yields, sustainability and profitability in the vital agricultural sector.

    ‘Rice Action Agenda,’ introduced by the The International Rice Research Institute (IRRI) for the 16-member countries of the Council for Partnership on Rice Research in Asia, calls on parties to share germplasm, collaborate on investments, and exchange rice-breeding techniques.

    Bruce Tolentino, deputy director-general of the Philippine-based IRRI, says the new agenda is “crucial to developing the rice sectors” of the participating countries. He says the new agenda was a response to concerns about diminishing rice stocks in India and Thailand — the two top global exporters.

    IRRI noted in February that the combined rice stocks of India and Thailand were set to decline by almost three-quarters by the third quarter of 2016 as compared to 2013 numbers, mostly due to environmental reasons such as droughts.

    “Fears of another rice crisis early this year was the impetus for the Rice Action Agenda,” Tolentino said.

    Under a 10-point action plan the agenda will introduce superior, higher yield rice varieties; upgrade rice research and breeding pipelines; increase research into global rice varieties; invest in rice education and increase the sustainability of rice cultivation systems.

    The plan also calls for reducing crop losses using mechanised technologies; reforming policies to increase production efficiency; increasing investments in agricultural infrastructure; strengthening food security for consumers and working to implement the ASEAN Rice Breeding Initiative.

    IRRI proposes that participants take advantage of three programmes — the CGIAR Research Programme on Rice, the Sustainable Rice Platform, and the ASEAN+3 Rice Genetics and Breeding Platform. The last includes a suite of tools for fast-tracking germplasm development, including genotyping and molecular markers, high-throughput phenotyping, and breeding informatics.

    Tolentino notes that participating countries are expected to carry out the new Rice Action Agenda using internal funding sources. “The goal is for each of the member countries to adopt the recommendations into each of their own national rice-sector strategies and fund implementation from their own fiscal budgets.”

    Rajeev Varshney, a geneticist at the International Crops Research Institute for the Semi-Arid Tropics, Patancheru, India, tells SciDev.Net that rice is the “most important crop for food as well as nutrition security in Asian countries.”

    According to Varshney, the agenda is a “great opportunity to bring the entire value chain of actors together.” By combining the various programmes proposed in the plan, participants should be able to “make the rice sector stronger.”

  • Myanmar opens talks with Thailand on reciprocal banking access

    Myanmar opens talks with Thailand on reciprocal banking access

    The central banks of Thailand and Myanmar agreed Sunday to start talks on granting access to designated banks in each other’s markets, marking a small step forward in the financial integration of the Association of Southeast Asian Nations.

    For Thailand, Myanmar is the third country to enter bilateral discussions on bank access, following Malaysia and Indonesia; for Myanmar it is a first.

    Under the ASEAN Banking Integration Framework, countries can enter into bilateral deals allowing banks that meet certain criteria to become “Qualified ASEAN Banks” that operate in each other’s markets on the same terms as local banks.

    “The expansion of a banking presence through QAB will enable greater efficiency and reduce costs for bankers and customers alike,” Bank of Thailand Gov. Veerathai Santiprabhob told bankers who were in Bangkok for the 21st ASEAN Banking Conference on Monday.

    With Myanmar opening up its economy after nearly 50 years of isolation and the ASEAN Economic Community kicking off last year, banks in  Thailand and Myanmar have been growing more active in each other’s markets.

    Myanmar’s largest lender, Kanbawza Bank, opened a representative office in Bangkok in August, becoming the first Myanmar bank to venture abroad.

    Last year, Thailand’s Bangkok Bank was among the first of nine banks to be granted a foreign banking license in Myanmar. Other big Thai banks were not granted licenses in the first round, but have opened representative offices in Myanmar in anticipation of the next opportunity.

    “It’s good that the Bank of Thailand signed the QAB agreement with Myanmar,” said Predee Daochai, president of Kasikornbank, which now has a representative office in Myanmar. “We would like to open a bank there,” he said.

    The time frame for the negotiations and details such as the number of banks to be designated QABs have yet to be decided.

    While trade and investment have been increasing in the region in the wake of deregulation and elimination of tariffs, “much work remains with regards to financial connectivity” in the region, Veerathai said.

    Lees ook:

    Lees ook:

    Lees ook:

  • 2C2P to Work with Diners Club International to Increase Acceptance

    2C2P to Work with Diners Club International to Increase Acceptance

    2C2P, the leading Southeast Asian (SEA) payments services company, and Diners Club International, a subsidiary of Discover Financial Services and part of the Discover Global Network, announced that 2C2P is a global acquirer for all cards running on the Discover Global Network. 2C2P’s SEA merchants can now tap Diners Club International, Discover and other Discover Global Network cards as an additional payment method. 2C2P will increase acceptance in the SEA region allowing Discover Global Network cardholders to use their cards at an increased number of merchants in the region. 

    2C2P will provide its merchants with single-source electronic payment services for the acceptance of Discover Global Network, which includes Discover cards from the United States, Diners Club International as well as its affiliate cards such as BC Global Card from South Korea, Elo Card from Brazil and RuPay from India.

    Aung Kyaw Moe, founder and Group CEO of 2C2P, said: “With the rise in global online retail and tourism, this agreement opens up key international travel and entertainment markets such as Asia, Europe and the U.S. to our Southeast Asian merchants. Cardholders from Discover Global Network can now enjoy payments access to the region’s travel, transport, tourism, retail and e-commerce brands.”

    “Discover Global Network continues to increase our merchant acceptance footprint in Southeast Asia through working with companies such as 2C2P because this region has an increasing number of Discover Global Network cardholders as a result of our Diners Club and RuPay networks,” said Ricardo Leite, vice president, Discover Global Network. “2C2P specializes in e-commerce travel merchants, an important sector to our cardholders.”

    McKinsey estimates the annual revenue of the global payments market is expected to increase by six percent from 2015 to 2020, exceeding US$2 trillion by 2020. The Asia Pacific region, including China, accounts for approximately 55 percent of the industry’s revenue growth worldwide. 

    Discover Global Network is the third largest payments network in the world1. With over 39 million merchant acceptance locations and 1.9 million ATM and cash access locations across 185 countries and territories, Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks.

    “2C2P continues to look for market-leading partners around the world, to deploy its best-in-class online payments processing solutions and make it easier for consumers to transact with the payment instrument of their choice,” added Aung.

    Lees ook:

  • Banana acquires 44 Bangkok outlets

    Banana acquires 44 Bangkok outlets

    A Bangkok IT store in a shopping mall in Bangkok. The stores will complete their transfer to Banana in the first quarter of 2017.

    Com7, the Bangkok-based IT chain store under the Banana brand, has taken over 44 BKK shops from Bangkok Telecom 999 for 184 million baht in a drive to accelerate its expansion into the mid- and entry-level segments.

    “This is our first acquisition for the purpose of pursuing growth,” said Sura Khanittaweekul, chief executive of Com7.

    The move is a reflection of how medium-sized IT retail chain stores in Thailand are trying to survive the hyper-competitive handset sales market.

    Small retail chains are being forced to close their shops because they cannot compete directly with cash-rich large stores.

    The process of transferring BKK’s shops will begin on Dec 1 and is expected to be completed in the first quarter of 2017, Mr Sura said.

    Com7 will operate the acquired 44 stores under the BKK brand, most of which are located in high-density areas. At least 10 BKK shops (out of the 44 acquired stores) compete directly with Com7.

    BKK Telecom 999 sold 44 branches out of its 80 shops.

    Mr Sura said the acquisition will enable Com7’s expansion strategy to grow faster, as the company need not build its own stores, which takes time and planning.

    The average size of a BKK shop is 30-70 square metres, while the average size of a Banana shop is 100 sq m.

    He said the acquisition of the BKK shops will enable Com7 to penetrated untapped mid- and entry-level markets, with handsets priced below 10,000 baht each.

    “Returns on the acquisition can be expected over the next 3-4 years,” Mr Sura said.

    Most Com7 branches are situated in prime locations in department stores serving premium customers with high purchasing power.

    Thailand’s smartphone market is quite mature. There is still an extensive demand in the mid-level handset segment in the replacement market.

    Com7 aims to expand its retail shops to 500 branches by 2017, up from 365.

    In August, Com7 launched bananastore.com to extend its sale channels online to capitalise on new-generation customers who lead the digital lifestyle trend.

    “We aim to have 1 billion baht in total sales revenue in 2017,” Mr Sura said.

    Com7 expects revenue to grow 10% to 17 billion baht this year. Of the total, 35% will come from sales of mobile phones, 30% from computers, 10% from tablets and the rest from accessories.

  • Spar to open 300 stores in Thailand

    Spar to open 300 stores in Thailand

    Spar International and Bangchak Retail Company (BCR) have announced a new partnership to open 300 Spar stores in Thailand by 2020.

    The US$78.9m investment was announced on 28 November, with BCR to open seven new stores in 2016, and 50-80 new stores each year from 2017.

    “The launch of Spar in Thailand in partnership with BCR represents a significant and important step forward in Spar’s ongoing expansion into Asian markets,” Tobias Wasmuht, managing director of Spar International said at the official announcement of the new partnership. “It brings together our internationally tried and tested retail expertise particularly in convenience and supermarket formats with the extensive knowledge of the Thai market. The partnership is a true example of the Spar ethos in which through working together all shall benefit.”

    BCR managing director Viboon Wongsakul said the Thai company was exciting about the new offering for customers in Thailand.

    “We plan to bring local retailing to the next level and will dedicate the resources necessary to have a significant presence in the market in the shortest possible time-frame,” he said.

    The partnership will see both Spar and BCR focus on sourcing produce locally, with Spar International working on developing its own brand of products.

    Lees ook:

    Lees ook:

  • Expansion plan from Big C parent company

    Expansion plan from Big C parent company

    Berli Jucker (BJC), the owner of Big C Supercenter, will allocate TB10 billion (US$280 million) to expand the Big C hypermarket chain.

    It plans to opening 213 stores and renovate 54 outlets next year.

    BJC executive VP for group strategy and investor relations Oliver Gottschall says the company will make an aggressive expansion of the Big C network through Thailand, spending TB8 billion to open nine Big C hypermarkets, four Big C Market outlets and 200 Mini Big C stores, as well as renovate 54 outlets. The remaining TB2 billion will be reserved as cash flow.

    As previously reported, MM Mega Market, BJC’s wholesale business, has been merged with Big C’s hypermarket business in a bid to promote expansion and management efficiency. BJC closed its Ogenki beauty/drugstores to focus on Big C’s Pure drugstore chain.

    Two MM Mega Market stores in the Nong Khai and Sa Kaeo provinces are expected help expose Big C’s retail network to cross-border trade through their strategic locations near Laos and Cambodia.

    BJC has more than 700 retail branches under various formats in Thailand, mostly under the Big C brand, and more than 100 branches in Vietnam.

    BJC CEO Aswin Techajareonvikul says Big C’s revenue dropped 20 per cent to TB22.7 billion in the third quarter of this year because of the gradual reduction of cigarette and liquor sales. Net profit rose 14.6 per cent year-on-year to TB1.53 billion.

    During the nine-month period, Big C posted a net profit of TB5.27 billion on revenue totalling TB92.6 billion. Nine-month revenue declined 7.3 per cent, attributed to the economic slowdown.

    Gottschall says the rise in net profit in the third quarter came from Big C restructuring, with low-profit products being replaced with more fresh food.

    During the first nine months, BJC posted a net profit of TB2.77 billion on revenue totalling TB97.4 billion. For the third quarter, net profit was TB1.8 billion and total revenue stood at TB33.5 billion.

    Lees ook:

  • Jamie’s Italian expands to Thailand

    Jamie’s Italian expands to Thailand

    Thailand’s first Jamie’s Italian restaurant has opened at the newly ­renovated Siam Discovery in Bangkok.

    It is being run by Hotel Properties in partnership with the mall operator, Siam Piwat.

    Jamie’s Italian began as a joint venture between UK celebrity chef Jamie Oliver and his mentor, Italian chef and restaurateur Gennaro Contaldo. The first restaurant opened in Oxford in 2008 and there are now 42 outlets in the UK and more than 25 internationally, including in Australia and Singapore.

    Jamie's Italian Stratfor

    As with all Jamie’s Italian outlets, the Siam Discovery restaurant is committed to sourcing free-range, higher-welfare meat, and sustainable and ethically produced ingredients. All the recipes are Italian classics with a Jamie Oliver twist, including pasta made on site every day.

    The restaurant is working with Thai farmers and suppliers.

    Meat Plank, recommended menu

    Menu highlights at Jamie’s Italian Siam Discovery include antipasti planks, a sharing dish served on wooden boards supported by tins of tomatoes and offering a selection of meats, cheeses, vegetables and pickles.

    The Jamie's Italian Burger, a signature main dish

    Oliver’s cook books and the restaurant’s signature napkins are on sale, as well as gifts.

    Jamie's Italian Spring Summer App Menu Shoot

    Jamie’s Italian Spring Summer App Menu Shoot

    With 184 covers, the restaurant features rustic, reclaimed timber refectory tables, zinc tables and vintage upholstered lounge chairs, with monochromatic and hand­-painted floral tile flooring. The dining area is illuminated with brass spotlights, vintage enamel shades and a textured-glass chandelier.

    Guests can view the open kitchen, watch their antipasti planks being made at the antipasti counter in the main dining room, or relax at Jamie’s Bar.

    Jamie’s Italian Siam Discovery_Interior Design 4

    Jamie’s Italian Siam Discovery_Interior Design 3

    Jamie’s Italian Siam Discovery_Interior Design 1

    Jamie’s Italian Siam Discovery_Interior Design 2

    Lees ook:

  • Thai univeristy opens Alibaba e-commerce training center

    Thai univeristy opens Alibaba e-commerce training center

    The University of the Thai Chamber of Commerce (UTCC) has become an authorized Alibaba e-commerce training center in Thailand.

    Both organizations said they will work to accelerate e-commerce growth in Thailand and help Thai SMEs position themselves in the global market.

    Several collaborative programs, including training the trainers, have already been implemented. A team of Alibaba personnel has coached UTCC faculty members in the School of Business and the School of Science and Technology, among others, to become certified Alibaba trainers.

    These trainers, in turn, are now ready to train Thai SMEs, entrepreneurs and UTCC students to run businesses on Alibaba.com.

    UTCC said it can train more than 5,000 individuals per year, which would help create more e-commerce-minded entrepreneurs and allow more SMEs to expand their businesses internationally.

    “Thai SMEs can potentially drive Thailand’s economy. They just need opportunities to do so. UTCC is now taking the lead to open the door of opportunities for those who aim to take their B2B businesses to another level,” said UTCC President and Associate Professor Dr. Sauwanee Thairungroj.

    Jerry Wu, Alibaba’s country manager in Thailand, said the company sees great potential in products from Thailand and hopes to train Thai SMEs to compete effectively on the global stage through e-commerce.

    Lees ook:

  • Thailand to adopt fingerprint registration for SIMs

    Thailand to adopt fingerprint registration for SIMs

    Thailand’s National Broadcasting and Telecommunications Commission (NBTC) has revealed plans to require all mobile operators to introduce an online fingerprint ID system for prepaid and postpaid mobile SIM registrations.

    The regulator has given a tentative deadline of February for operators to support mandatory fingerprint ID registration.

    NBTC officials told the publication that the system is designed to ensure greater security in mobile banking and reduce the risk of fraud as Thailand continues to transition to a cashless society.

    Around 14 million of Thailand’s 103 million mobile subscribers are already using mobile banking services, according to the report.

    According to the report, while the operators will be required to implement a fingerprint registration system to complement their existing mandatory SIM registration systems, mobile customers will not be required to submit their fingerprints. The fingerprints will be stored on an NBTC database server.

    The fingerprint system was developed by the Engineering Faculty of Kasetsart University, which won a tender to supply the system for 15 million baht ($421,000).

    Operators will be able to deduct the costs of implementing the system from their annual universal service obligation fee, which amounts to around 3.5% of operators’ total revenue.

  • Uncertainty Marks The Year End For Thailand

    Uncertainty Marks The Year End For Thailand

    The non-ceasing political disturbance and reigning uncertainty is dominating every aspect of life in Thailand since the King Bhumibol Adulyadej’s death on October 13. The Crown Prince Maha Vajiralongkorn is supposed to appear for an audition as a heir to the throne after he had been invited to become the next King by the parliament. The deeply divided society, depressed under the rule of the military junta, needs reconciliation.

    The macro view from the long-term perspective for Thailand is rather worrying, notwithstanding the country’s status of oil and gas producer. Its own natural resources are not proving to be large enough to count on to satisfy the growing domestic demand. The oil reserves are on the way to extinction, and the capacities of the robust gas production are not sufficient to compensate for overtaking consumption. Thailand has turned into a net gas importer and faces increasing reliance on oil imports as well.

    The import curve reflects an intermittent character of oil cargo inflows, it remains unclear they are at all affected by the event of the King’s passing followed by the mourning period.

    More than a half the crude shipments are originated in the Middle East, with zero contribution by Iran. Although it is predictable that in not so remote a future the once rogue member of OPEC will find its way to squeeze into the Thai market anyway.

    The state-owned PTT and its refining unit Thai Oil have reported strong 3rd quarter profits, overshadowing the forecasts. Forex gains and favourable refining margins helped to reverse losses suffered in 2015.

    PTT is currently undergoing some restructuring splitting off its retail business unit, which is due to be renamed as PTT Oil and Retail Business Co Ltd (PTTTOR) to be listed eventually on the Stock Exchange of Thailand. The move is aimed to react to shrinking tolerance of fluent markets to inflexibility typical for inert government-controlled institutions.

    In the 1st quarter of 2017, Thai authorities were supposed to open for bids 29 onshore and offshore concessions for gas and oil production. But the first auction since 2007 was postponed again, and will be only completed in 2018. The existing contracts held by Chevron Corp and PTT Exploration and Production are due in 2022 and 2023, respectively.

    Previously, PTT announced plans to sign 15-year contracts with Royal Dutch Shell and BP to secure supplies of liquefied natural gas. The 5 million tons capacity of Map Ta Put LNG import terminal in the Gulf of Thailand will be doubled by March 2017. The current long-term deal with Qatar is ensuring some 2 million tons a year.

    More gas is being pumped in via the ASEAN pipeline from Thai-Malaysia joint offshore development area. This type of cooperation sets an example to follow in a region where territorial disputes have long been the cause of dormancy for many downstream projects.

    However, the Thai authorities will have to lose sleep over the challenging task to pursue the investors’ money. Any wrongdoing might provoke the capital outflow, then it will take a lot of effort to make the country attractive for investment again. To be updated soon.

    Lees ook:

  • Alfamart Philippines plans 120 stores

    Alfamart Philippines plans 120 stores

    Alfamart Philippines is set for major expansion with funding secured for as many as 120 new stores.

    Alfamart Philippines is set for major expansion with funding secured for as many as 120 new convenience stores.

    Minority parent company Sumber Alfaria Trijaya already operates 44 stores in the Philippines in a joint venture with SM Retail, through its local subsidiary Alfamart Retail Asia. That company has secured local financing to fund the expansion, which will cost an estimated US$3.8 million.

    The Philippine roll-out is part of  a broader expansion plan for Sumber Alfaria Trijaya which will open 1200 stores in Indonesia this year. Currently, it has 10,086 stores in its home market, including 2958 which are franchised.

    Lees ook: