Vroom eyes expansion, local plant
Vroom eyes expansion, local plantVroom Thailand, importer and distributor of Indian and European motorcycle brands, plans to expand its business by setting up a local factory to produce them here by 2023. "The company is conducting a feasibility study on local manufacture to serve growing demand in Thailand and Asean," Vroom chief operating officer Varot Kamolchotiros said yesterday. Though the pandemic has severely affected car and motorcycle markets, Mr Varot is optimistic the impact will be only temporary after the government has managed to contain the spread of the coronavirus. During the first five months of 2020, only 600,000 motorcycles were sold in Thailand, down 18% from 740,000 year-on-year, said Vroom chief executive Hideki Yanagisawa. Bajaj motorcycles are produced by Bajaj Auto Ltd, which is based in Pune, Maharashtra.
Source:Bangkok Post
July 08, 2020 23:26 UTC
BGC in talks to buy Vietnam solar farms
BGC's solar farm in Vietnam currently has a capacity of 67 megawatts. BG Container Glass (BGC), Thailand's largest glass container packaging manufacturer by capacity, is negotiating with investors in Vietnam to buy solar farms worth over 1 billion baht as it seeks new business opportunities in renewable energy. It set a budget of 1-2 billion baht for the purchases. BGC continues to expand its packaging business using mergers and acquisitions in Thailand. Mr Silparat said the spread of Covid-19 affected the packaging business because of the government's lockdown measures and its ban on alcohol sales during the pandemic.
Source:Bangkok Post
July 08, 2020 23:26 UTC
NRF seeks to invest in 100 startups
NRF seeks to invest in 100 startupsMr Dan says NRF will invest in startups in the food sector. Pitsinee JitpleecheepNR Instant Produce Co, the producer and distributor of instant food and drink, vegetarian food and food from plant protein, vows to invest in 100 startups over the next 2-3 years, enhancing its global food production in the future. In 2019 NRF invested in 19 startups globally. The company will expand its business in speciality food, focusing mainly on ethnic food, plant-based food and functional food. Proceeds will be used to expand its business, invest in startups, repay loans and as working capital.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Lack of action guarantees coconut industry ruin
Lack of action guarantees coconut industry ruinThis 2002 photo shows legendary monkey trainer Somporn Sae Khow and one of his naughty students who was trained as a coconut picker in Surat Thani. Bangkok Post photoThe government and the coconut industry will do or say anything to avoid talking about the abuse of monkeys. It may be hard to believe, but a Peta investigation has documented that intelligent, social primates are enduring miserable lives of servitude in Thailand's coconut farming industry. They don't want to see these social and intelligent animals being deprived of their natural lives and exploited by the coconut industry. There are many great things about Thailand -- the annual vegan festival in October is a personal favourite, along with the booming Nam Hom coconut industry, which doesn't use monkeys.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Can Thai unis attract foreign pupils?
Can Thai unis attract foreign pupils? There are many reasons why international students are now shying away from studying in North America and Europe. Innovations should be encouraged and promoted so that the country may benefit from the research conducted by international students. Thai students and international students will have to work together to create start-ups and new ventures. This will help Thailand leverage international education as part of its effort to attract the best global talent.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Fetco suggests SSF extension
Fetco suggests SSF extensionThailand's capital market representative has proposed a 10-year investment extension period for extra units of the Super Savings Fund (SSF) to financial authorities, aiming to help stabilise stock market volatility. "We have discussed with capital market-related agencies and concluded the extra units of SSF are a long-term investment tool," said Fetco chairman Paiboon Nalinthrangkurn. "This fund will help support the stock market's stability in the future as a long-term investment fund can [help] reduce market volatility." SSF investment conditions are more relaxed than those for LTFs, as SSF units can invest in any assets, while LTFs stipulate equities as the major investment asset. Narongsak Plodmechai, chief executive at SCB Asset Management, said the company logged the highest fundraising amount for extra units of the SSF at 2.32 billion baht through three SSF extra unit funds.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Thai Vietjet sticks to domestic tactics
Thai Vietjet sticks to domestic tacticsThai Vietjet Air will fly only seven of 11 jets in its fleet this year. Thai Vietjet hopes to spur the domestic market by adding five new domestic routes in the second half of the year, but is halting fleet expansion this year because of uncertainty from the outbreak. While Thai Vietjet services only domestic routes, she said the number of passengers in July increased about 10% compared with the last two weeks in June. With the industry hit hard by the pandemic, Thai Vietjet is one of several local airlines requesting long-overdue soft loans from the government. In May, Thai Vietjet carried more than 20,000 passengers and the airline aims to have 3 million passengers this year.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Don't waste hard work
Don't waste hard workThe government's mantra of not letting one's guard down will lose its spell if authorities fail to manage the transition to normalcy with utmost care. Health authorities and prominent doctors also repeated calls for the public not to feel complacent. All the hard work and hardship that health personnel and members of the public underwent during the past few months of battling the outbreak will go to waste if we have to return to extreme measures again, doctors said. It is understandable why health authorities are trying to raise the alarm. In this case, the CCSA and health authorities are correct to keep up their caution and tell people not to drop their guard.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Centara opening 8 hotels for local travel
Centara opening 8 hotels for local travelClockwise from upper left Centara Hotel Hat Yai, Centra by Centara Phu Pano Resort Krabi, Cosi Pattaya Wong Amat Beach and Centara Azure Hotel Pattaya. Centara Hotels & Resorts, the hotel operating arm of Central Group, announced it will open eight hotels in Thailand as it seeks to accommodate the wave of domestic tourists following the government's easing of travel restrictions and nightly curfew. The eight hotels comprise Centara Grand at CentralPlaza Ladprao Bangkok, Centra by Centara Government Complex Hotel & Convention Centre Chaeng Watthana, Khum Phaya Resort & Spa Centara Boutique Collection, Centara Hotel & Convention Centre Udon Thani, Centara Hotel Hat Yai, Centra by Centara Phu Pano Resort Krabi, Cosi Pattaya Wong Amat Beach and Centara Azure Hotel Pattaya. Domestic tourism confidence has helped Centara achieve occupancy rates of up to 100% on weekends at some locations. A number of Centara hotels and resorts at international destinations with low infection rates are also operating, including Centara Sandy Beach Resort Danang, Centara Ceysands Resort & Spa Sri Lanka, Centara West Bay Residences & Suites Doha and Centara Muscat Hotel Oman.
Source:Bangkok Post
July 08, 2020 23:26 UTC
ASP: 15% Q2 contraction possible
Varuth HirunyathebThailand's economy could contract by 15% year-on-year in the second quarter from lockdown measures, with rising contagion risk affecting economic activities on the external front, says Asia Plus Securities (ASP). "Second-quarter GDP is likely contract for both quarter-on-quarter and year-on-year figures because of the country's lockdown measures against the pandemic," said ASP executive vice-president Therdsak Thaveeteeratham. "The reopening of business activities will help the economy gradually rebound in the second half." The contraction could flare up to 8.4% if exports fall by 13.7%, said the securities firm. Thailand, Asean's second largest economy, reported first-quarter growth of 2.8% from a year earlier, the smallest since 2014's final period.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Ivy League colleges halt sport over virus concern
Ivy League colleges halt sport over virus concernIvy League colleges have decided to halt all sports until at least January 2021 over fears of the coronavirus. The ruling means the eight Ivy League colleges will play no gridiron football this year. Ivy League executive director Robin Harris told ESPN campus policies designed to mitigate the threat of coronavirus, with many requiring students to study remotely, made sport a non-starter. "It's certainly the right decision for the Ivy League, but it's difficult." The Ivy League said practice and other athletic training would be permitted, starting with limited individual and small group workouts.
Source:Bangkok Post
July 08, 2020 23:26 UTC
MP no-shows kill debate
MP no-shows kill debateA Lower House sitting on national reform was cancelled yesterday for the lack of quorum. Pheu Thai MP for Surin, Khrumanit Sangphum, asked the speaker for a headcount as the debate began, saying he saw few MPs from the government bloc in attendance. Pheu Thai MP Sutin Klungsang after the meeting said the opposition bloc would not rubber-stamp reform plans. He said coalition MPs showed ignorance on the importance of reform by failing to attend the sitting. Palang Pracharath MP Wirat Rattanaset claimed many coalition MPs were attending some 30 House committee taking place simultaneously.
Source:Bangkok Post
July 08, 2020 23:26 UTC
MotoGP plan approved
MotoGP plan approvedA plan to extend Thailand's role as a host of MotoGP races until 2025 was approved by the cabinet yesterday. The licence to host MotoGP events will expire this year. Traisuree Traisanakul, deputy spokeswoman for Government House, said the government will pay for half of the 50 million euros (1.7 billion baht) needed to retain the MotoGP licence for five more years. Deputy prime minister Anutin Charnvirakul said hosting MotoGP events will help boost the national image and income. MotoGP races were set to start in March in Buri Ram, but they were postponed due to Covid-19.
Source:Bangkok Post
July 08, 2020 23:26 UTC
Push for total Thai ban on wildlife trade
Somchai PoomlardActivists campaigning against wildlife crime say Thailand could be a global leader in stopping pandemics by further cracking down on and ceasing to be a gateway for the illegal wildlife trade. He said the nation could return to its top place in the region in the fight against the illegal wildlife trade under the framework of the Asean Wildlife Enforcement Network known as ASEAN-WEN. However, it has left one door open for the next viral bomb to explode, which is the illegal wildlife trade on its own doorstep. The final destination of these items in the world wildlife trade market is usually China. Many anti-wildlife trafficking experts say the Covid-19 pandemic has played a significant role in stopping the illegal wildlife trade.
Source:Bangkok Post
July 08, 2020 23:15 UTC
No US base in Thailand: Apirat
Army chief Apirat KongsompongArmy chief Apirat Kongsompong has denied the US is looking to set up a military base on Thai soil. However, Gen Apirat said US troops have left behind some of their military equipment deployed during exercises in Thailand. Meanwhile, Gen Apirat also defended a two-day visit by a delegation led by US army chief-of-staff James McConville which starts today. The US chief-of-staff-led delegation will be the first group of foreigners to officially visit Thailand since the country began lifting Covid-19 restrictions in phases. Gen McConville will meet Gen Apirat and Prime Minister Prayut Chan-o-cha today and tomorrow.
Source:Bangkok Post
July 08, 2020 23:14 UTC