Saranya Pipoppinyo (right), Vice President Marketing of AEON Thana Sinsap (Thailand) Public Company Limited, hands over keys to a Nissan March, valued at 451,000 baht, to Suthit Saisuwan from Sisaket, the lucky winner of the grand prize from the AEON Promotion Your Cash Car Lucky Draw campaign which had run from July 1 to September 30.
Tag: Thailand
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Thai AirAsia has plans to expand its fleet in China
Low-cost carrier (LCC) Thai AirAsia has plans to expand its fleet in China, revealing that it is planning to add five to six aircraft per year over the next few years.
Thai AirAsia CEO Tassapon Bijleveld told that half of the additional aircrafts would be allocated to China, its largest international market.
China has accounted for 26 percent of the carrier’s total international capacity to date. Thai AirAsia currently, has 38,880 weekly seats across 14 routes in the Thailand-China market.
CAPA–Center For Aviation stated that China accounts for 13 of the combined 35 international destinations to which Thai AirAsia/Thai AirAsia X flies.
Thai AirAsia currently serves 11 destinations in mainland China. Its sister medium/long haul LCC Thai AirAsia X serves another two Chinese destinations.
The airline, a joint venture between the Malaysia’s AirAsia and Thailand’s Asia Aviation, is keen to grow its base at U-Tapao near the city of Pattaya, which opened in September 2015 and is linked to Macau.
The expansion on the U-Tapao/Pattaya base would enable new routes to China.
The low-cost airline has two A320s based at U-Tapao operating three domestic and four international routes – including the two mainland Chinese routes, Macau and Singapore.
According to Bijleveld, all the U-Tapao routes “are doing very well”, and the Pattaya market is promising.
The carrier is also considering launching routes from Hat Yai to Hong Kong, Macau and Singapore.
Through the first three quarters of 2016, Thai AirAsia’s passenger numbers increased by 19 percent to 12.86 million.
Thai AirAsia plans to add five A320 neos aircraft in 2017. Under its current five-year fleet plan it envisages a fleet of 71 aircraft by the end of 2020.
Further, Thai AirAsia is also expanding in India, which it referred to as a logical growth market for Thailand.
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Village for Cafe Amazon’s Japan launch
Rather than a big city, Thai coffee-shop chain Cafe Amazon has chosen a village for its launch into Japan.
More than 200km from Tokyo, Kawauchi in the Fukushima prefecture has fewer than 2000 residents, and the community is still struggling to recover from the 2011 nuclear disaster.
Kawauchi is about 25km away from the Fukushima Daiichi nuclear power plant, which had meltdowns after the earthquake and tsunami on March 11, 2011. The village was temporarily evacuated, with about 30 per cent of the registered population of 2700 yet to return.
However, Thai state oil and gas company PTT, which owns the Cafe Amazon chain, believes that starting out in such a location could help to raise brand awareness.
PTT president/chief executive Kevin Vongvanich, who travelled from Bangkok to attend the Kawauchi shop’s opening ceremony, says the company hopes to open other branches across Japan.
He says one of PTT’s objectives in Kawauchi is to gather consumer feedback. “We have a special coffee designed for the Japanese – a bit lighter than coffee in Thailand. The testing will provide us with information so we can adapt our coffee to suit Japanese tastes.”
Cafe Amazon is using the same Thai beans it offers in its 1600 domestic outlets. A basic cup of coffee in Kawauchi sells for 250 yen (US$2.30), and the 60-seat shop resembles a wooden house, with customers being asked to leave their shoes at the entrance.
Japanese building materials maker Codomo Energy, which has a factory in Kawauchi, has the Cafe Amazon franchise for Japan, and the partners plan to open several more branches next year, starting in Osaka.
For Kawauchi, the cafe represents a rare investment from outside the community. At the opening ceremony, Mayor Yuko Endo said he hoped more outsiders would visit the village because of the cafe.
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Jamie Oliver to announce its opening for the first Jamie’s Italian restaurant in Thailand
Jamie’s Italian by Jamie Oliver is pleased to announce its opening head chef for the first Jamie’s Italian restaurant in Thailand, set to open in the fourth quarter of this year. Alex Barman, a dynamic and passionate chef with more than 11 years of culinary experience, will be leading the kitchen team as head chef of Jamie’s Italian Siam Discovery.
Born in North Wales, UK, Alex started working in restaurants at a young age while still studying, beginning his culinary career as a kitchen assistant in a local hotel restaurant, and then progressing to be a sous chef in a local bistro, and head chef for Whitbread Group in Cardiff. In 2010 he joined the Jamie’s Italian family in Cardiff as a commis chef, moving swiftly through the ranks and taking his first head chef role for Jamie’s Italian in Cheltenham and Birmingham. He was also a member of the training support team for the opening of Jamie’s Italian Westfield, Stratford near the London 2012 Olympic Stadium. Alex moved to Singapore three and a half years ago to open the first Jamie’s Italian in Asia in VivoCity, where he started as the sous chef and was quickly promoted to head chef. In 2015, he moved to Bali as head chef for the new restaurant, Jamie’s Italian Kuta Beach.
“Everything we serve is made with care,” Alex Barman, the head chef of Jamie’s Italian Siam Discovery said. “Good food is as the heart of everything we do. We are fully committed to supporting Jamie’s fight for better food worldwide, and his mission to make good food accessible for everyone.”
As with all Jamie’s Italian outlets, the Siam Discovery restaurant will remain committed to sourcing only the best freerange, sustainable and ethically sourced ingredients. The restaurant will also work closely with Thai farmers to showcase local, responsibly grown produce.
Alex said: “One of the most exciting parts of the job so far has been sourcing ingredients that fit in with Jamie Oliver’s food ethos. It’s not always easy, but it is always enjoyable as I have been able to meet some really amazing people. I am very passionate about sourcing and working with great local suppliers who are as passionate about great ingredients and the food ethos behind them, as I am. I’m really looking forward to seeing these ingredients feature throughout our menu.”
“Since moving to Asia I’ve always wanted to work in Thailand and experience the culture, people and amazing local food on a regular basis, not just for a holiday, as you never really get to experience the real country and people on short breaks. It’s such a diverse and dynamic country with big differences from one province to another, making it very exciting to travel around and experience all the country has to offer. I love cities and actively seek to work and live in big, bustling, dynamic cities in which Bangkok has to be one of the best so far I’ve lived in.”
Alex said: “Jamie’s Italian food is simple, rustic and inspired by dishes eaten all over Italy, delivered to the local market at affordable prices, which means it’s great for any occasion. I will also be creating some fantastic daily specials, maximising ingredients I can get at short notice from local markets and suppliers. I’m really looking forward to using some of the interesting products that are available here to create some brilliant dishes, with a new brigade of talented local chefs, and seeing our first guests enjoy our food.”
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The Hour Glass profits drops 14 per cent
Citing challenging business conditions and weakening consumer confidence, luxury-watch retailer The Hour Glass reports that its net profit for the second quarter ended September 30 fell 14 per cent year-on-year to S$8.32 million (US$5.88 million).
Revenue declined 7 per cent to S$163.11 million for the period.
For the six months to September 30, The Hour Glass profit slumped 18 per cent to $16.51 million and revenue was down 7 per cent at $311.3 million.
The group says the death of the King of Thailand will have an impact on the performance of the group’s Thai associates as the country enters a prolonged period of mourning.
While the retailer believes market conditions will continue to be challenging, it expects to remain profitable for the rest of the financial year.
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Foodland, plans to expand lots over the next five years
Expats’ favorite supermarket, Foodland, plans to expand lots over the next five years. The chain has doubled its yearly investment budget to THB500 million to open four or five new grocery stores and add three new types of restaurants to their roster.
Some of the new locations are already open. There is now a Foodland at The Street community mall on Bangkok’s Ratchadaphisek Road. Another Foodland opened yesterday at Rama 3’s The INT Intersect community. A third is opening soon at the Terminal 21 in Nakhon Ratchasima. The other locations have not yet been announced.
Foodland’s new restaurants will include a Japanese ramen chain, a Hong Kong-style roasted-goose dining spot and a Singapore-style street food restaurant.
Chief executive officer Somsak Teerapattanakul said, “As I am getting older, I want to speed our expansion as much as possible. Starting from next year, we plan to open four or five new Foodland stores for five consecutive years,” Somsak said.
These expansion plans means that the company’s sales might reach THB10 billion in 2017, which would be 25 percent higher than the THB8 billion they should hit this year. -
TrueMove deploys Procera’s ScoreCard
Thai mobile service provider TrueMove has deployed Procera’s ScoreCard technology to monitor the quality of experience (QoE) its network is delivering to subscribers across 2G, 3G, and 4G LTE.
ScoreCard is being used for raw QoE KPI intelligence and the visualization of network performance, thereby helping to guide capex investments and better service planning.
TrueMove’s management can quickly use the data and visualization to further aid business investment decisions, maximize ROI, and reduce churn among the subscriber base.
“Mobile operators are increasingly differentiating their offerings by delivering a differentiated experience to subscribers,” said Viriya Upatising, CIO at TrueMove.
“Procera’s solutions enable TrueMove to see the actual experience delivered to their subscribers in real-time, and ScoreCard provides unique QoE KPIs and visualization that is ensuring the experience is a good one for all subscribers.”
As higher bandwidth mobile devices, connected cars, and the Internet of Things (IoT) continue to proliferate, TrueMove needs better intelligence about the QoE delivered to subscribers to maximize the return on investment for its capex.
ScoreCard has been deployed across TrueMove’s network to measure the quality of mobile broadband delivery. No Personally Identifiable Information (PII) is collected from the subscribers, but the overall quality of the broadband service is measured and fed back to a centrally deployed Procera Insights system.
ScoreCard has already identified several areas of investment that will improve the QoE of the TrueMove network, and action has been taken to enhance the subscriber experience based on ScoreCard’s recommendations.
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Dtac taps Nokia to revamp core network
Thailand’s Dtac has become the market’s first mobile operator to implement an SDN-ready IP/optical network using equipment from Nokia.
Dtac is implementing the technology to replace its existing IP core routing and DWDM infrastructure, in order to achieve the capacity to serve Thailand’s fast-growing mobile subscriber base.
The deployment also includes Nokia’s security gateway for Dtac’s LTE network.
“Over the last two years we’ve seen demand for mobile broadband grow exponentially,” Dtac CTO Prathet Tankuranun said.
“As we prepare for future advanced technologies we’ve made a strategic choice for an SDN-ready IP/Optical network because it gives us the control and agility needed to run an efficient network that can rapidly adjust to evolving demand patterns. This deployment with Nokia is an important next step in our migration towards full SDN automation.”
Nokia Thiland head Sebastien Laurent added that the deployment “provides the foundation for an SDN-centric network and will allow dtac to implement on-demand services while also easing operation and maintenance demands.”
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AEON Provides Privileges for Northern Customer at the 11th Money Expo Chiangmai 2016
AEON Thana Sinsap (Thailand) Public Company Limited will be offering information on its different financial services and special promotions at the 11th Money Expo Chiangmai 2016. Services include Personal Loan, Your Cash, Cash Withdrawal, AEON Credit Cards and Member Cards application service.
AEON customers who make financial transactions at the expo will also be in with a chance to win a 1-Baht gold necklace, John Lang Ford Bag or AEON Umbrella. Furthermore, AEON customers who has the financial transaction that meet AEON’s conditions will receive Caggioni Luggage or Big C Gift Voucher valued at 2,000 Baht maximum. Additionally, AEON is giving a special interest 0% installment on gold.
The 11th Money Expo Chiangmai 2016 will be held from Nov 18 – 20, 2016 at Chiangmai Hall, Central Plaza Chiangmai Airport.
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CAT to cut network leasing rates by 10%
Thai state-owned operator CAT Telecom will cut its wholesale 850-MHz network leasing prices by 10% to help the companies using the network under an MVNO model improve profit margins.
CAT plans to implement the price cuts by the end of the year, citing comments from president Col Sanpachai Huvanandana.
Several MVNOs had asked CAT to lower its rates to help reduce operating costs and help MVNOs struggling to compete stay above water.
But Sanpachai insisted that the rates are not too high, and that it is instead competitive pressures and low ARPUs that are leaving MVNOs finding it difficult to compete.
CAT currently has five companies providing 3G services on the operator’s 850-MHz network – TrueMove subsidiary Real Move, Samart i-Mobile, Penguin operating unit the White Space, 168 Communication and Data CDMA.
According to the report, Samart i-Mobile recently returned 300,000 mobile numbers to save rates on numbering fees after determining that the company can not profitably provide services due to a high network leasing cost. Thai mobile operators pay a fee of 1 baht ($0.029) per month per mobile number.
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Korean Fashion Struts Authentic Style to Thailand’s Online Shoppers
WearYouWant, Thailand’s leading online fashion and beauty marketplace, is launching a premium, Korean fashion range in Thailand, designed and made in Korea, to satisfy the ever-growing love of Korean brands in the Kingdom. Developing a close relationship with online fashion house, Atria International Style, WearYouWant is sourcing authentic Korean brands, importing these for the Thai market from up-and-coming local Korean designers.
Just as Korean pop music as captured a huge fan base in Thailand, there is high demand for Korean fashion too. The new Korean range of cool and stylish women’s apparel, accessories, bags and shoes, is to be showcased on WearYouWant. The launch, planned for December 2016, is big news for Thailand’s online shoppers. It is also a sign of growing focus from Korea on Thailand’s rapidly developing e-commerce market; the fastest growing in Southeast Asia.
The WearYouWant collection is unique in Thailand and has been specially curated by fashion experts to assure quality and to appeal to the country’s online fashion-buying market who are actively seeking out Korean brands. Martin Toft Sorensen, Co-Founder and Co-CEO of WearYouWant confirms that this latest fashion collection launch is part of an ongoing strategy to understand and meet their customers’ needs and a response to the market in Korea too.
“Our decision to move forward with Korean brands is in part due to a general push for designers to expand beyond the saturated markets in Korea. WearYouWant is an ideal platform for this expansion as there is a great amount of passionate interest from our online shoppers for Korean fashions. We pride our success in being ahead of the curve with consumer trends and this is what makes our platform so vibrant, relevant and exciting.”
This launch follows the Last Mile Fulfilment (LMF) Korea 2016 conference in September 2016, which Martin Toft Sorensen attended. The event focused on the attraction of Thailand’s solid e-commerce market and higher purchasing power for Korean brands looking to grow within Southeast Asia and succeed outside Korea’s competitive markets. Also clearly highlighted was the importance of fashion distributors in assisting Korean brands to spread out within the region and the value that this can bring to outside markets. The WearYouWant launch aims to add value to Thailand’s blossoming ecommerce market where demand is strong and expectations high.
ATRIA STYLE (www.atriastyle.com), a powerful South Korean platform that sells contemporary fashion and beauty brands all over the world has been working closely with WearYouWant to fuel cross-border fashion and beauty relations in Thailand to build strong commerce presence between these two key retail luxury markets.
Founder and CEO, Cindy Yun is optimistic about the future success of Korean fashion and beauty brands through the WearYouWant platform. “Korean designer fashion is forward thinking, high quality and, in terms of production, there is a good lead time in creating output. This means that brands are stylish and affordable which greatly appeals to savvy Thai consumers. For designers looking to expand their collections outside of Korea, WearYouWant is a vital online lifeline and the e-commerce opportunity this launch entails will enable them to realize their true potential.”
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First Cross-Border Rewards Platform UTU Launches
Father and son team Asad and Ameer Jumabhoy from tourist VAT refund and payments technology company The Scotts Group, and Jeremy Tan, an expert in financial technology, mobile payments and loyalty platforms from Korvac Holdings, announce the launch of UTU, a cross-border loyalty and rewards platform that enables people to convert, earn and redeem points in real time at any UTU merchant outlet worldwide through their smartphone.
UTU consolidates rewards points from multiple credit and debit cards; eliminates the time it takes for those points to be processed; removes the barriers to cross-border loyalty; and offers shoppers a new kind of consumer model – one that enables them to earn rewards points now and pay with them at point of sale. The platform also features a merchant portal that allows brands to set up their own promotions, optimize campaigns and track their return on engagement.
“UTU’s potential lies in its ability to engage merchants with consumers, acquirers with merchants and issuers with their consumers on a single integrated platform,” says Asad Jumabhoy, an entrepreneur and pioneer in the digitization of global tax-free shopping. “Real innovation minimizes the gap between process and people. With UTU, we’re bringing it all together in the retail, travel and rewards space at home and away, online and instore.”
UTU launches in Thailand in November, with further roll out happening in Asia in 2016/2017. The choice of Thailand as a launch location is attributed to the country’s deep loyalty culture, and presents UTU the opportunity to fill an immediate need (e.g. as of August 2016 over 70 million credit and debit cards were in circulation in the country; Thais carry an average of seven loyalty cards each; and brand rewards programs are the country’s most popular Google search category). Brand partners at launch include Visa Thailand, the Tourism Authority of Thailand, RSH Limited and Singapore’s NTUC Link. Availability in the UK, Europe and US is anticipated in 2017.
“We are excited to be working with UTU on the expansion of the Plus! Partners network beyond Singapore and is in line with our vision to provide gratifying experiences for members of the Plus! Rewards Program,” says Tony Tan, CEO of NTUC Link. “This synergistic partnership allows Plus! Members to maximize the mileage of their overseas expenditure as points earned during their travels can be converted and redeemed for rewards when they return home. The growing number of leisure and business travelers in our membership base will definitely benefit from the enriched array of options UTU will make available around the world.”
“UTU promises to enhance everyday retail experiences by providing greater seamlessness between customers and brands across borders,” says Indranu Hati, CEO of RSH Thailand Group. “UTU is the perfect loyalty service partner for us, given our growing footprint in nearly a dozen countries across Pan Asia.”
UTU is a response to the observation that the tourist today is a local tomorrow, and a local today is a tourist tomorrow. With more than one billion people travelling to foreign countries a year, locals and tourists want integrated loyalty programs, greater ease in managing their rewards points and more relevant deals from merchants. With UTU, shoppers continue to be rewarded, regardless of geography, through the one piece of technology they use every day – their mobile phone.
To use UTU, users download the free mobile application; register up to five credit or debit cards on to the UTU app; earn rewards points when they shop; convert those points through the UTU platform; and spend them at thousands of participating redemption outlets. Users can also gift points, select to receive promotions and earn extra points through merchant engagement.
The global loyalty industry is estimated to reach US$20 billion by 2020. Loyalty management today is an expensive and segmented process which has resulted in a plethora of programs delivering incremental advantages to the consumer. Merchants bear the cost of loyalty systems and front line education and training. Shoppers are burdened with physical cards and are responsible for monitoring their points and merchant offers through separate portals. UTU eliminates the inconvenience for all parties and provides a streamlined experience.
“We congratulate UTU on launching this global loyalty rewards program and choosing Thailand as its springboard,” says Suripong Tantiyanon, Country Manager, Visa Thailand. “Through Visa Direct, UTU taps the push payment capability of Visa’s global payment system to redeem points and rewards.”
“Loyalty is the key to brand success in a digital world, yet we’re still limited in how we are rewarded for how we choose to spend our money,” says Ameer Jumabhoy, a second-generation student at MIT Sloan School of Management involved in MIT’s Digital Currency Initiative. “What we’re working to achieve with UTU is to remove those boundaries and give people the freedom to get more.”
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2C2P’s Online-To-Offline E-commerce Service Now Available At Over 320,000 Locations
2C2P, the leading Southeast Asian payments company which processes billions of dollars in transactions each year, has announced 320,000 offline payment locations for its ‘123’ payment solution. ‘123’ is an alternative payment service. Through it, consumers of 2C2P’s merchants across Southeast Asia (SEA) can pay for their online purchases with cash or alternate means at these 320,000 offline payment locations. 2C2P’s merchant partners include some of the largest online retailers across Southeast Asia, spanning the travel and tourism, retail, food and beverage and hospitality industries, among others. 123 enables these online retailers to bring online commerce to the region’s unbanked population which, according to KPMG, spanned 73 per cent of the region’s population, or 438 million people.
At online check-out, their consumers will have the option to pay for purchases using 123. They will be provided a bar code which can be printed out or scanned from their mobile devices, enabling them to then pay with cash or alternate means 2C2P’s extensive network of offline payment locations – available through 2C2P’s channel partners. Payment channels include cash over-the-counter at retail chains and agents, ATMs and electronic kiosks (such as AXS, SAM, SingPost), as well as internet banking and mobile banking. These locations are available across Southeast Asia, including Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand.
Bringing e-commerce capabilities to rural Myanmar
123 has increased its payment locations across the SEA region, with 12,000 new locations added in Myanmar in 2016, near ten times the network of the country’s largest bank. It has achieved this by establishing partnerships with Myanma Post Offices, Myanmar Awba Group and ABC convenience store chain. Retailers and merchants including Myanmar National Airlines (MNA) and Oway are among the first in Myanmar to actively offer 123 to their customer base.
MNA is the largest airline carrier, and one of only two international carriers in Myanmar. It has the most extensive route network within the country. With 123, its customers can book their tickets online and then pay at over 12,000 physical locations across Myanmar, or pay through AYA Mobile Banking and branches. Customers of Oway, Myanmar’s largest online travel agent, can use 123 to make travel bookings more convenient and accessible – all without a debit or a credit card.
Aung Kyaw Moe, CEO and Founder of 2C2P said, “2C2P has made extensive efforts to open up Myanmar’s unbanked population to e-commerce. As the country continues to see increased mobile penetration, rising urbanization and improved consumer spending, there is an urgent need to modernise its e-commerce and payments infrastructure. 2C2P’s vision is to bring e-commerce to every single person in Myanmar, and more broadly, in Southeast Asia. In so doing, we look to build the region’s e-commerce future.
“2C2P, through 123, looks to bring convenience to Myanmar’s citizens, particularly those that remain underserved by banking and financial institutions – lacking banks accounts, credit and debit cards or access to a bank branch. They can now, for the first time, tap into the fast-growth of national, regional and global e-commerce by paying for their online purchase at a convenient offline location via 2C2P’s extensive network of physical channel partner locations,” added Aung.
Myanmar’s Ministry of Hotels and Tourism estimates 6 million annual inbound tourists for 2016, a 25 per cent increase from 2015 (4.68 million). This number is predicted to cross 7.5 million by 2019. The Asian Development Bank (ADB) is optimistic that tourism will drive the country’s overall economic growth. It forecasts tourism revenues to have increased by 19 per cent from 2014 to 2015 to US$2.1 billion – representing over 4 per cent of Myanmar’s GDP. Asia-Pacific will overtake North America to become the largest digital travel market globally in 2019, according to eMarketer.
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PayPal appoints Somwang Luangphaiboonsri as Country Lead for PayPal Thailand
PayPal, a global leader in digital payments, has appointed Somwang Luangphaiboonsri as Country Lead of its Thailand subsidiary.
As Country Lead, Mr. Somwang will be responsible for assisting PayPal to capitalize on the explosive growth of cross-border e-commerce in the Thai market. Together with the newly-established PayPal Thailand team, Mr. Somwang will also be focused on educating Thai merchants on the growth opportunities available in the global e-commerce marketplace.
Rahul Shinghal, General Manager for PayPal Southeast Asia said, “I am pleased to announce Somwang’s appointment as the Country Lead for the Thailand office. Somwang has been instrumental in many of our partnership dealings with Thai merchants, including Thai Airways. I am excited to see the growth of our offerings to customers in the market.”
Having spent more than 16 years in the finance and technology industries, Mr. Somwang is a veteran in the e-commerce space. Prior to joining PayPal, Mr. Somwang co-founded a domestic online payment service provider and built the company to be the platform of choice for many Thai consumers. He is well-entrenched in the Thai payments scene, and is also a secretary of the Thai E-Commerce Association and the secretary of Thailand ePayment and eMoney Association.
“Fintech is a hot topic right now and Thai businesses will need guidance to help them navigate through the fast-changing payment innovations in order to tap on the consumer growth opportunity. I am looking forward to PayPal introducing new solutions for its Thai merchant partners for their evolving customer needs and building PayPal’s presence in Thailand,” said Mr. Somwang.
The appointment of Mr. Somwang is just one of the latest steps taken by the digital payments company to reinforce its position in Thailand this year. PayPal has been actively building its merchant portfolio to enable Thai businesses to have access to a seamless cross-border payment experience. In August 2016, an MoU was signed with the Department of International Trade Promotion (DITP) to promote and facilitate cross-border trade for Thailand’s small and medium sized businesses. PayPal also onboarded leading travel businesses including Centara Hotels & Resorts, Centre Point Hotels Group, and Thai Airways as merchant partners that same month, being the sole payment provider for their cross-border online payments.
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Siam Makro buys four food companies
Siam Makro, which runs the Makro cash-and-carry store chain, has clinched a 3-billion-baht (US$85.75 million) deal to acquire four food companies.
Through its wholly owned subsidiary Siam Food Services, Siam Makro has entered into an agreement to acquire an 80 per cent stake in each of Indoguna (Singapore), a listed firm on the Singapore Exchange, Indoguna Dubai, Lordly and Just Meat. Indoguna is listed on the Singapore exchange, while Lordly and Just Meat are Hong Kong listed.
The funds will come from Siam Makro’s cash flow and bank loans.
Siam Makro’s major shareholder, Charoen Pokphand Group (CP), has its strength in the food and agricultural businesses. CP acquired a 64 per cent stake in the cash-and-carry chain from the Dutch trading company SHV Holdings for $6.6 billion in 2013.
Siam Makro has partnered with with local companies to take its Makro cash-and-carry chain to Cambodia. The JV is 70 per cent owned by Makro ROH, a wholly owned subsidiary of Siam Makro, and the balance by Cambodian investors, with $2 million in initial registered capital.
Siam Makro plans to open 10 stores in Thailand this year, bringing its total outlets to 108 nationwide. During the first half, Siam Makro posted a net profit of 2.38 billion baht on revenue totalling 85.7 billion.