Barkar Nash – Page 935

Truck hits school van, killing driver, injuring students

On: October 25, 2023

25 October 2023 at 12:51 PUBLISHED

On Wednesday night in the Pa Daet city of Chiang Rai, a delivery vehicle and another car collided head-on, killing the vehicle driver and injuring 15 students.

According to police, the crash happened on a two-lane street in Mai Tai Moo 6 town in tambon Pa Daet and was reported around 7.20 am.

A six-wheel package delivery truck with Bangkok panels overturned on the road was discovered by emergency responders who arrived at the scene quickly. A class vehicle was stopped close by and had Chiang Rai plates and a crushed-in entrance.

Behind the wheel, imprisoned inside the aircraft, the truck driver was dead. There were fifteen individuals hurt. All of the individuals were freed by the rescuers, who then transported the injured to a local hospital.

According to the police, the vehicle was transporting 20 students to Pa Daet Witthayakhom School from Wang community in the tambon San Makha. & nbsp,

The approaching shipping vehicle slowed down to pass a car and ran into the school bus. & nbsp,

Police were looking into it.

After colliding with a college truck on Wednesday night in Chiang Rai’s Pa Daet district, the delivery truck turned over. ( Photo: Rescue and emergency response organization in Pangae)

Sutin eyes cheaper Chinese ship

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

Navy to discuss thread trade with China

25 October 2023 at 06:03 PUBLISHED

Sutin Klungsang, the defense minister, announced that he would give the military the go-ahead to start talks with China to lower the cost of frigates in light of the government’s decision to buy them rather than submarines.

He noted that it is unclear whether China is prepared to participate in such discussions and that a military delegation is anticipated to visit China next week to keep speaks before an agreement between the two edges expires next quarter.

Mr. Sutin assured the state that it would not risk the nation and may work to negotiate the best offer when he met with the military on Tuesday evening to gather information for the planned dialogue.

The defense minister claims that rather than amending the agreement, the talks are a problem between the navy and the Chinese company because they involve revising their original agreement.

It was discovered last week that the submarine may become fitted with a German-made engine as Thailand had requested, leading to the government’s decision to purchase an engine made in China to remove one the army had ordered in 2017.

The frigate’s estimated price of 17 billion baht, or many billion more than the underwater the army has ordered, has caused controversy. Critics wonder why Thailand must spend more when China is unable to uphold its legal commitments.

Mr. Sutin emphasized that China was unable to equip the underwater with the German-made website and that the initial price tag of 17 billion ringgit is based on the cost of an European frigate.

He responded that the ship design was one of two ideas the navy had prepared in case the submarine project was unable to move forward when asked if it was happy with the change.

He claimed that when the navy was asked to weigh its options, it came prepared with the two ideas: purchasing a frigate and an offshore patrol ship( OPV ). He continued,” The ship was chosen by the authorities.”

When asked if a refund may be requested, he replied that before considering other options, the government had first negotiate the submarine-to-frenchate swap.

He added that there were additional factors to asking for a refund that might influence collaboration in various areas.

The best course of action, according to Move Forward Party list member MP Wiroj Lakkhanaadisorn, would be to need a refund of the 7 billion ringgit paid for the underwater structure as well as an apology from China for failing to uphold the agreement.

The ship or OPV was a great option, according to Mr. Wiroj, chairman of the House committee on military matters, but the government may need to take into account the cost, upkeep, spare parts, and other factors.

To keep the public informed, he claimed that the House commission invited the army to respond to inquiries about the underwater purchasing job tomorrow.

On Tuesday, previous election director Somchai Srisutthiyakorn posted information about the navy’s spending on the underwater procurement program on his Facebook account.

He claimed that the army spent 8.7 billion ringgit on 11 products related to this purchasing scheme, excluding a payment to China of more than 7 billion.

A underwater command and control system, a missile and me storage facility, navigation charts, and geological data for submarine navigation were among the expenditures.

Winter fetes to be held nationwide

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

25 October 2023 at 05:10 PUBLISHED

According to Prime Minister Srettha Thavisin, the government intends to make the yearly winter event Thailand Winter Festivals, moving it from the nation’s capital to the entire country.

After speaking with Tourism and Sport Minister Sudawan Wangsuphakijkosol, TAT governor Thapanee Kiatphaibool, and Bangkok governor Chadchart Sittipunt about planning the” Colourful Bangkok Winter Festival” at the end of this year, he posted the announcement on his Facebook account.

Additionally, he stated that at least 11 sweet power-related activities have been planned by the government, with more details expected in the coming month.

The TAT and the Bangkok Metropolitan Administration ( BMA ) will collaborate to plan five” big events” for the Colorful Bangkok Festival, which aims to celebrate winter in the nation’s capital from October to December.

Ms. Thapanee claims that the TAT, BMA, and Culture Ministry are working together to co-organize Colorful Bangkok in order to capitalize on this gentle authority and expand the event internationally.

The events, which will be held during the high season, are anticipated to encourage tourism as a form of artistic commerce.

According to Ms. Thapanee, Colorful Bangkok includes five significant activities: the 2023 Loi Krathong Festival, Vijit Chao Phraya 20, Amazing Thailand Passport Privileges, Amazing Thai Marathon Bangkok 20, and Amazing Bangkok Countdown 2024.

Through the state’s artistic hospitality, she continued, those events hope to showcase the employment and identity of the community.

The New Year Countdown on Rattanakosin Island, events, art, and performances, as part of City Hall’s mission to promote the money as a creative and social capital, will all serve to highlight this task.

According to Mr. Chadchart, City Hall has collaborated with a number of industries to make Colorful Bangkok successful.

Thaksin stays out for surgery

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

PUBLISHED: 25 October 2023 at 4:00 p.m.

Thaksin Shinawatra, a former premier of Jailed, underwent orthopaedic surgery on Monday at the Police General Hospital( PGH ), though the Department of Corrections has not yet determined how long his recovery will take.

Thaksin: Health concerns raised

The department was informed of the procedure yesterday by Bangkok Remand Prison( BRP ), according to Sahakarn Petnarin, deputy justice permanent secretary and acting director-general.

According to a BRP report, Thaksin underwent surgery on Monday at 9 am and was later admitted to the hospital’s Neurosurgical Intensive Care Unit( NICU ) for treatment at 2 pm.

According to Mr. Sahakarn, Thakin’s post-surgery problem is being evaluated, which will determine how long he may stay at the PGH.

After returning on August 22 from 15 times of self-imposed transportation, the former top was admitted to the hospital during BRP time. According to the ministry, Thaksin is not the only slave who has been permitted to receive medical care outside of the facility for this much.

149 prisoners have received inside clinical care since October 1 of last year. According to the office, four more were permitted to stay around for more than 120 days, while 115 of them were released from prison for longer than 30 days.

Social activist Srisuwan Janya, meanwhile, petitioned the Medical Council of Thailand( MCT) to look into allegations that Thaksin’s specialists at the PGH were fabricating his illnesses in order to support his freedom from prison.

Mr. Srisuwan stated that he wants the MCT to determine whether the physician assessments of Thaksin’s circumstances, which have resulted in his being given a longer be at the PGH, are up to professional specifications.

MTL aims to go from strength to strength

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

The insurance company wants to be the most dependable life and health companion in the nation, according to chief executive Sara Lamsam.

The success of Muang Thai Life Assurance ( MTL ), one of Thailand’s most well-known life insurance companies, is largely due to Sara Lamsam.

Best Director in Management and Innovation Excellence
Muang Thai Life Assurance Plc’s president and CEO is Sara Lamsam.

The 54-year-old president and chief executive officer has played a crucial role in outlining and putting into practice organization strategies that have fueled MTL’s steady progress for ages, supported by 30 years of experience within the Lamsam home in the life insurance sector.

The company’s delivery of a variety of cutting-edge products and services has been largely responsible for its exceptional performance and ability to garner plaudits.

This time, MTL declared its intention to establish itself as a life insurance company that stands out in terms of its merchandise offerings. It will do this by using online systems to connect with different customer groups and continue to dominate the life insurance sector in the nation.

MTL’s items are now available to consumers through both conventional and new distribution channels. In order to enhance innovations in relation to its goods, services, and management procedures, the company founded the Fuchsia innovation center. The center serves as an illustration of how MTL works with other businesses to create products that appeal to various customer parties, especially those who want something special.

After more than 800,000 people downloaded the app, MTL Click, which was created to give consumers access to all of the company’s service in one place, won the Business Product Innovation Award 2023 in May.

The employer introduced MTL Fit, an app to help create people’s medical hassle-free, two months prior. For discounts of up to 15 % on insurance premiums, it provides dynamic pricing through an” MTL Fit Reward” feature.

The business teamed up with Line BK next month to provide a cutting-edge life insurance product for lower-income customers and consultants. Through Line Pay, these organizations can quickly access information and give a small fee for life insurance protection.

According to Mr. Sara, MTL is able to meet the needs of every type of lifestyle at various stages of life by providing products and services that are simple to understand and equipped with technology for the ease and accessibility of customers. This makes it possible for MTL to connect with customers who are more specifically targeted.

Such a tactic aids the business in growing its clientele while core products like health insurance, critical illness insurance coverage, unit linked-insurance, and pension insurance continue to grow successfully, supporting MTL’s ability to expand regularly and walk out in the life insurance industry.

Under the guise of” MTL Next to You ,” Mr. Sara declared his intention for MTL to emerge as the nation’s most dependable life and health partner and a market leader by providing innovative health insurance coverage and wealth management.

He emphasized the idea of life insurance products that take an” inside in” approach to meeting consumer demands. In order to satisfy the needs of clients who prefer self-service or company with a human contact, the company uses this strategy to provide services with new innovations through both online and non-digital systems.

According to Mr. Sara, the life insurance industry has changed because businesses now need to consider an” in out” aspect when providing comprehensive insurance.

The world of life insurance today is about being” personalized” or” outside in” to serve customers. Big data and technology are essential success tools for now because it’s crucial to find products that satisfy consumer needs.

According to him, using information systems to create insurance plans through online and offline channels is a plan that keeps customers happy, makes MTL profitable, and causes its operating results to increase even in times of crises.

With full coverage rates reaching 300 billion ringgit, up 3.78 % from the corresponding period last year, the life insurance industry as a whole continued to expand in the first half of this year. Premiums are expected to increase by 0 to 2 % year over year, from 613 billion to 624 billion ringgit, for the entire time.

Insurance rates increased by 14.4 % year over year to 29.9 billion baht in the first five weeks, outperforming the market as a whole. In total, new insurance premiums made up 10.5 billion baht, an increase of 13.8 % year over year, and insurance renewal premium numbers increased by 14.8 % to 19.4 billion.

As chairman of the Thai Life Assurance Association, Mr. Sara thinks that as people learn more about the value of life insurance and more health or critical illness insurance policies, positive elements will support the expansion of that sector. The healthcare industry has grown so far this year as a result of rising medical costs and confusion regarding the spread of emerging diseases like Covid-19.

In comparison to the size of the Thai population, life insurance policies have an average of 38 %, and the value of this sector currently makes up about 3.8 % of GDP. Life insurance companies may reach a larger audience in some nations and can add up to 15 % to GDP.

Given that so many people are still not covered by insurance items, Thailand’s life insurance industry also has a lot of room to expand.

Additionally, the life insurance system invests 95 % of its money in stocks, bonds, and debt instruments. This implies a link between the healthcare industry and the national habitat.

Chairman of the Bangkok Post for 2023

Celebrating visionaries and inspirational leaders

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

Once again, the halls of the Bangkok Post resonate with the thrill of honouring brilliance and innovation within the corporate sphere. In our steadfast commitment to recognising exceptional leadership, we take immense pride in presenting the “Bangkok Post CEO of the Year 2023” awards.

Building upon our tradition of acknowledging trailblazers who have reshaped industries and ignited change, this year’s awards pay homage and extend applause to chief executive officers and top leaders for their unwavering guidance, transforming ordinary companies into beacons of success, progress and inspiration.

The awards encompass a diverse array of categories, each representing a facet of the dynamic business world. From visionary strategies to transformative leadership, these accolades spotlight not only corporate triumphs but also the remarkable contributions these leaders have made to society and the economy at large.

As we venture into a new era with 14 distinctive awards, each winner’s captivating story will be told, illuminating why they have captured the public’s imagination and admiration. Their narratives, achievements, innovative strategies and contributions that propel their organisations into the future will be spotlighted in the days ahead.

To mark the “CEO of the Year 2023” announcement, the Bangkok Post is from today launching a series about awarded CEOs on every working day, showcasing their achievements, business strategies, and inspirational visions both in the print edition and on our website.

PTTEP LOOKS TO A MORE SUSTAINABLE FUTURE

CEO Montri Rawanchaikul understands the economic necessity for secure sources of energy, but vows that the firm will always keep the environment in mind

Mr Montri has been a driving force at PTTEP, leading initiatives to reduce carbon dioxide emissions and pave the way for sustainable approaches.

Chief Executive Officer Montri Rawanchaikul believes one key mission for PTT Exploration and Production Plc (PTTEP) is to devise ways to reduce the impact of its businesses on the environment, particularly by reducing the company’s carbon dioxide emissions.

Mr Montri said he is aware the company needs to continue to secure enough fuel to support the Thai economy, but this effort should not ignore the cost to the environment.

As someone who sets policies and strategic plans for PTTEP, Mr Montri has helped the company promote projects to cut carbon dioxide emissions, seek new alternative energies and pave the way to operate in a more sustainable manner.

One such project is developing Thailand’s first carbon capture and storage (CCS) facility at the Arthit gas field in the Gulf of Thailand, one of several efforts aimed at helping the government curb carbon dioxide emissions in the country.

The CCS project fits with the company’s campaign against global warming and the environmental, social and corporate governance (ESG) principles, which promote business development and taking better care of the environment and society, said Mr Montri.

ESG refers to a set of standards that are said to be able to lead to business sustainability.

“We expect the CCS project to store up to 1 million tonnes of carbon dioxide during gas production at Arthit within 2027,” said Mr Montri.

The company has already completed the preliminary front-end engineering and design phase of the project. It expects the CCS facility to start operating by 2027.

The Gulf of Thailand offers great potential to store carbon dioxide, amounting to roughly 40 million tonnes a year, because, geographically, the terrain is a sink area, which is suitable for the storage of carbon dioxide.

PTTEP is also cooperating with five companies from France and South Korea to produce green hydrogen in Oman, said Mr Montri.

Green hydrogen, which is used to fuel power generation and manufacturing processes, is produced by using electricity made from renewable energy to split water molecules into oxygen and hydrogen.

This project shows the company is not solely focused on the exploration and production of petroleum, as it is also seeking new opportunities to develop future energy.

Under a contract made with Hydrom Oman SPC, which operates under the government of Oman, PTTEP and its partners were awarded a 47-year concession to produce green hydrogen at Block Z1-02 in Dugm in eastern Oman.

The production facility, to be run by 5 gigawatts of solar and wind power, is expected to open in 2030, with an estimated 220,000 tonnes of hydrogen produced annually.

These two projects indicate PTTEP is focusing more on the environmental aspects of its businesses, which will, in turn, partly help the government to run a campaign to combat global warming successfully.

At the 26th UN Climate Change Conference held in Glasgow in 2021, Thailand announced it is determined to achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050, along with a net-zero target, a balance between greenhouse gas emissions and absorption, by 2065.

PTTEP also has its own plan under — EP Net-Zero 2050 — concept, which aims to achieve a net-zero target by 2050.

“The CCS and green hydrogen projects will support PTTEP’s environmental efforts, driving Thailand and the world at large towards a low-carbon society,” said Mr Montri.

Greater care for the environment will be a crucial part of PTTEP’s work in the future.

“The company will go on expanding its investment in natural gas production, but at the same time, it will also incorporate the greenhouse gas emission issue in the decision-making process of new gas projects,” said Mr Montri.

National energy security is important to fuel the growth of the country’s economy, but its development must be sustainable, which will be achieved through better environmental management, he said.

MTL aims to go from strength to strength

Chief executive Sara Lamsam’s vision is for the insurer to become the country’s most trusted life and health partner

Mr Sara believes positive factors will support the growth of the country’s life insurance industry.

Sara Lamsam is the driving force behind the success of Muang Thai Life Assurance (MTL), one of Thailand’s most prominent life insurance companies.

Backed by 30 years of experience within the Lamsam family in the life insurance industry, the 54-year-old president and chief executive officer has played an integral role in outlining and implementing business strategies that have driven MTL’s steady growth for decades.

A key strategy that led to the company’s outstanding performance and its ability to win accolades has been MTL’s provision of a range of innovative products and services.

MTL this year announced its goal of becoming a life insurer that stands out in terms of its product offerings via online platforms to reach various groups of customers and maintain a leadership position in the country’s life insurance industry.

Consumers can now access MTL’s products via both traditional and new distribution channels. The company established the Fuchsia innovation centre under a “think out of the box” concept to strengthen innovations in relation to its products, services, and management processes. The centre is an example of MTL’s collaborations in the form of business alliances to develop products that serve different groups of customers, particularly those requiring a unique product.

MTL Click, an application developed to allow customers to access all of the company’s services in one location, received the Business+ Product Innovation Award 2023 in May after over 800,000 individuals downloaded the app.

Two months earlier, the insurer launched MTL Fit, an app to help make people’s healthcare hassle-free. It offers dynamic pricing under an “MTL Fit Reward” feature for discounts of up to 15% on insurance premiums.

Last month, the company joined hands with Line BK to offer an innovative life insurance product for lower-income consumers and freelancers. These groups can easily access information and pay a small amount for life insurance protection via Line Pay.

Mr Sara said offering products and services that are easy to understand and equipped with innovation for the convenience and accessibility of customers enables MTL to meet the needs of every kind of lifestyle at different stages of life. That, in turn, enables MTL to be connected with more targeted customers.

Such a strategy helps the company expand its customer base while core products such as health coverage, critical illness coverage, unit linked-insurance, and pension insurance continue to expand well, supporting MTL’s ability to grow continuously and stand out in the life insurance sector.

Mr Sara, early this year, announced his vision for MTL to become the country’s most trusted life and health partner and become a market leader as the “health provider” of innovation in terms of health insurance coverage and wealth management under the concept of “MTL Next to You”.

He emphasised the concept of life insurance products that meet the needs of consumers through an “outside in” perspective. Using this strategy, the company offers services with new innovations through both digital and non-digital systems to meet the needs of customers who prefer either self-service or service with a human touch.

“The life insurance business today has changed the way of thinking as companies cannot only rely on an ‘inside out’ dimension in offering insurance coverage,” said Mr Sara.

“Nowadays, the world of life insurance is about personalised or ‘outside in’ to serve customers. Finding products that meet customer needs is very important, so big data and innovation is a key success tool for today.”

Using information systems to develop insurance plans via online and offline channels is a strategy that keeps customers satisfied, making MTL successful and its operating results grow even in times of crisis, he said.

The life insurance industry overall continued to grow in this year’s first half, with total insurance premiums reaching 300 billion baht, up 3.78% compared to the corresponding period last year. For the entire year, premiums are projected to grow 0-2% year-on-year to 613 billion to 624 billion baht.

In the first five months, MTL recorded higher growth than the overall market, with insurance premiums surging 14.4% year-on-year to 29.9 billion baht. Of the total, new insurance premiums accounted for 10.5 billion baht, up 13.8% year-on-year, and insurance renewal premiums soared 14.8% to 19.4 billion baht.

In his capacity as president of the Thai Life Assurance Association, Mr Sara believes that positive factors will support the growth of the country’s life insurance industry as people become more aware of the importance of life insurance and additional health or critical illness insurance policies. The trend of increasing medical expenses and uncertainty regarding the spread of emerging diseases such as Covid-19 have driven the growth of the insurance industry so far this year.

Life insurance policies, relative to the size of the Thai population, average 38%, while the value of the life insurance industry contributes roughly 3.8% to GDP at present. In some countries, life insurance companies can reach a larger number of people and can contribute up to 15% to GDP.

The life insurance business in Thailand still has plenty of room to grow, as many people are yet to be covered by insurance products.

Moreover, 95% of the funds in the life insurance system are invested in debt instruments, government bonds, and stocks. This suggests that the insurance business is connected to the country’s ecosystem.

HSBC Thailand taps global connectivity

The bank will continue to support its clients in growing and diversifying their investments in offshore markets, said Mr Gamba.

HSBC Thailand is leveraging its global connectivity and investment expertise to help both Thai and international clients grow their businesses worldwide, while maintaining a long-term commitment to expanding the bank’s business in the Thai market.

The bank aims to establish itself as the leading international bank in Thailand for outbound business, supporting the expansion of large Thai corporations regionally and globally.

“Globalisation is the bank’s superpower in connecting our clients to new business opportunities within Asean and beyond,” said HSBC Thailand’s Chief Executive Officer Giorgio Gamba.

In the wealth space, HSBC Thailand has been actively enhancing its capabilities in Thailand to better serve the country’s high-net-worth individuals and their families.

The bank will continue to support its clients in growing and diversifying their investments in offshore markets.

HSBC Thailand launched its onshore asset management business in September 2022 after introducing private banking business to the country in February 2021, and the bank has been able to grow the business segment satisfactorily, he said.

Foreign direct investment (FDI) has been growing in various countries and industries in the region, including Thailand. Japan accounts for one-third of Thailand’s inbound FDI.

China ranked second in terms of FDI last year and will play an increasingly important role in investment as many of that country’s companies are relocating their manufacturing bases to Thailand.

Thailand has attracted FDI in several industries, but especially agriculture, hospitality, healthcare, and manufacturing, particularly EV production and the automotive-related supply chain.

In addition, HSBC Thailand aims to continue to be the leader when it comes to inbound international business in the Thai market.

The bank earned its leadership position based on the growth potential of both the Thai and regional economies.

Meanwhile, Asean continues to be the world’s fastest-growing trade bloc, offering significant wealth and trade opportunities for businesses and investors alike.

“Thailand is a country where we see tremendous potential to grow and expand our business, so we have ambitious growth plans here,” Mr Gamba said.

HSBC Thailand announced an impressive performance in 2022, with revenue growing 28% and profit growing 55% year-on-year, representing a record high over a 10-year period. Strong relationships with customers, employees and the wider community are key to achieving these remarkable rates of growth.

Moreover, the bank will continue to invest in people, digital infrastructure as well as other resources to bolster its existing operations, which span wholesale banking, market and securities services, and private banking.

In response to local business expansion, HSBC Thailand has completed a capital increase, in line with the nation’s economic growth, he said.

HSBC’s country strategy was developed in parallel with Thailand’s national development plan.

With global networks and a high level of investment expertise, international connectivity is the bank’s key business strategy in supporting corporate clients investing and expanding worldwide.

The bank focuses on helping customers expand businesses in the world’s key economic corridors, where HSBC has an active presence, notably in China, the US, Europe, Asean, and the Middle East.

The bank supports Thai clients in growing their businesses in 42 countries.

HSBC Thailand has set out an ambitious plan to prioritise sustainable financing and investment that supports the transition to a net zero global economy, said Mr Gamba.

The bank also encourages Thai clients to strategise their portfolios and raise capital for renewable investment.

The bank committed to providing US$1 trillion of sustainable finance and investments by 2030 after achieving $211 billion in 2022.

HSBC Thailand taps global connectivity

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

While maintaining a long-term commitment to growing the company’s business in the Thai business, HSBC Thailand is utilizing its global communication and investment experience to assist both Thai and international customers in growing their businesses globally.

According to Mr. Gamba, the lender may keep assisting its customers in expanding and diversifying their onshore market investments.

Best Director in Banking International
Giorgio Gamba, HSBC Thailand’s Chief Executive Officer

The institution seeks to become Thailand’s top global bank for outbound business by assisting the growth of sizable Thai corporations both locally and internationally.

According to Chief Executive Officer Giorgio Gamba of HSBC Thailand,” Globalization is the company’s power in connecting our clients to new business prospects within Asean and past.”

In order to better serve the nation’s high-net-worth people and their people, HSBC Thailand has been constantly improving its functions there.

The bank may keep assisting its clients in expanding and diversifying their onshore market investments.

After introducing personal bank to the nation in February 2021, HSBC Thailand launched its upstream asset management division in September 2022. According to him, the lender has been successful in expanding the business segment.

Thailand is one of many nations and industries in the region where foreign direct investment ( FDI ) has increased. One-third of Thailand’s outbound FDI comes from Japan.

As many of China’s businesses are moving their manufacturing facilities to Thailand, China, which ranked second in terms of FDI next year, will play a bigger and bigger part in funding.

Thailand has attracted FDI in a number of sectors, but particularly in manufacturing, Vehicle production, kindness, care, and agriculture.

Additionally, HSBC Thailand wants to maintain its position as the industry leader for northbound foreign trade.

Based on the potential for growth in both the Thai and regional markets, the institution attained its position of leadership.

Asean, however, continues to be the fastest-growing trade bloc in the world, providing both businesses and investors with considerable wealth and trade opportunities.

We have ambitious development plans here because Thailand is a nation where we see great potential to grow and grow our business, according to Mr. Gamba.

With revenue increasing 28 % and profit increasing 55 % year over year, HSBC Thailand announced an impressive performance in 2022, setting a record high for the same period. To achieve these extraordinary rates of growth, it is essential to build strong relationships with customers, workers, and the larger group.

Additionally, the bank will keep funding its current operations, which include general bank, market and securities services, and private banking by investing in people, online infrastructure, among other things.

According to him, HSBC Thailand has finished a capital increase in response to the rise of local businesses.

The state method of HSBC was created concurrently with Thailand’s regional development strategy.

Global connection is the bank’s main business strategy for assisting business clients in investing and growing globally thanks to its extensive network and level of investment expertise.

The lender focuses on assisting clients in growing their businesses in the major financial hubs of the world, particularly in China, the US, Europe, Asean, and the Middle East.

In 42 states, the lender assists Thai users in expanding their businesses.

According to Mr. Gamba, HSBC Thailand has outlined a bold plan to prioritize sustainable funding and investment in order to support the transition to an net-zero world economy.

Thai clients are also encouraged by the bank to plan their portfolios and raise money for green investments.

After achieving$ 21 billion in 2022, the banks pledged to offer$ 1 trillion in green investments and financing by 2030.

2023 Bangkok Post CEO

PM sends warning to Israeli employers

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

There should be no pressure on Thai staff.

PUBLISHED: 25 October 2023 at 4:00 p.m.

Prime Minister Srettha Thavisin stated yesterday in response to claims that income payments have been delayed that Israeli companies should not use cash as a lever to maintain Thai workers in Israel at such an unsafe period.

Before the regular government meeting, the perfect minister gave a press interview in which he admitted to calling Jewish ambassador Orna Sagiv about the situation on Monday night.

Mr. Srettha claimed that in order to keep Thai employees, Israel was apparently either offering higher pay or delaying salary payments until November 10.

When Thai lives are on the line, this is intolerable, Mr. Srettha said.

” Ms. Sagiv immediately retorted that she would look into the matter and was unaware of such information.”

The primary minister claimed to be aware that some Thais had chosen to remain in Israel rather than return home and that he recognized the economical importance of the position to these employees.

He did, however, request that all of the Thai staff present go back for their own safety.

He claimed that the government may find them work here at fair income.

The 19 Thais taken prisoner by Hamas during the invasion on October 7 are also unknown, according to the prime minister.

The 19 Thais were among the more than 200 individuals who were kidnapped, according to Foreign Affairs Minister Parnpree Bahiddha-Nukara.

The Thais who had been killed were whose bodies were decomposing, according to the foreign secretary, making it challenging to identify them. Identifying would necessitate DNA cross-checks, he claimed.

Monday, the Israeli embassy denied that wages were being postponed in order to entice Thai staff.

According to the embassy, the issues might come from employees who wanted to be paid on the 10th of each month, which was the normal day. In fact, an incentive to stay was being provided in the form of extra cash.

According to the ambassador, there were about 30,000 Thai workers in Israel, and they are significant players in the agricultural business and the food supply chain.

According to the statement, Israel needs Thai personnel, so it extended their permits and approved specific accommodations for those who chose to stay in their positions near the Gaza Strip until the close of this year.

PTTEP looks to a more sustainable future

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

Although CEO Montri Rawanchaikul is aware of the financial need for reliable energy sources, he promises that the company will generally keep the environment in mind.

One of PTT Exploration and Production Plc’s( PTTEP ) main goals, according to Chief Executive Officer Montri Rawanchaikul, is to find ways to lessen the environmental impact of its operations, particularly by lowering carbon dioxide emissions.

At PTTEP, Mr. Montri has been a driving force behind efforts to cut carbon dioxide emissions and open the door for environmentally friendly methods.

Best Director in Sustainable Energy Visionary Leadership
PTT Exploration and Production Plc’s CEO, Montri Rawanchakul

Mr. Montri acknowledged that the company still needs to find enough energy to support the Thai business, but he cautioned against ignoring the environmental impact of this effort.

Mr. Montri has assisted the company in promoting projects to reduce carbon dioxide emissions, looking for new alternative & nbsp, energies, and paving the way for operations to be more sustainable as someone who sets policies and strategic plans for PTTEP.

One such initiative is creating Thailand’s first carbon capture and storage ( CCS ) facility at the Arthit gas field in the Gulf of Thailand, one of many initiatives to assist the government in reducing carbon dioxide emissions.

According to Mr. Montri, the CCS project is in line with the company’s efforts to combat global warming as well as the environmental, social, and corporate governance ( ESG ) principles, which support business growth and environmental and societal preservation.

A set of requirements known as ESG is said to be capable of promoting business sustainability.

According to Mr. Montri,” we anticipate the CCS job to keep up to 1 million kilograms of carbon dioxide during oil output at Arthit within 2027.”

The project’s initial front-end engineering and design period has already been finished by the business. The CCS ability is anticipated to begin operations by 2027.

Because the ground in the Gulf of Thailand is a fall area, which is suitable for the storeroom of carbon dioxide, there is significant potential to save it, amounting to about 40 million tonnes per year.

According to Mr. Montri, PTTEP is also working with five French and North Korean businesses to produce clean hydrogen in Oman.

Water molecules are broken down into oxygen and hydrogen using electricity generated from solar energy to produce clean hydrogen, which is used to fuel manufacturing and power generation processes.

This task demonstrates that the business is not just interested in the exploration and production of gas; it is also looking for fresh ways to develop new sources of energy.

PTTEP and its partners received a 47-year yielding to produce clean hydrogen at Block Z1 – 02 in Dugm, eastern Oman, as part of an agreement they made with Hydrom Ocean SPC, an entity that is governed by the OMAN state.

With an estimated 220,000 tonnes of hydrogen produced every, the manufacturing facility, which will run on 5 gigawatts of solar and wind energy, is scheduled to open in 2030.

These two initiatives show that PTTEP is putting more of an emphasis on its businesses’ environmental concerns, which will help the authorities successfully launch a battle to combat global warming.

Thailand declared at the 26th UN Climate Change Conference, held in Glasgow in 2021, that it is committed to achieving carbon neutrality— a balance between carbon dioxide emissions and absorption — by 2050 and a net-zero target of balancing emissions of greenhouse gases and absorbtion by 2065.

In accordance with the EP Net – Zero 2050 principle, PTTEP also has a program that aims to reach net-zero levels by the end of the year.

According to Mr. Montri,” The CCS and clean hydrogen projects will help PTTEP’s economic efforts, promoting a low-carbon society in Thailand and the rest of the world.”

In the future, PTTEP’s work may be heavily reliant on increased environmental protection.

According to Mr. Montri,” The company will continue to increase its investment in natural gas production, but at the same period, it will also add the greenhouse gas emission issue into the decision-making process of fresh gas projects.”

Federal strength security is crucial to sustaining the nation’s economy, but it must be developed sustainably, which will be made possible by better economic management, he said.

2023 Bangkok Post CEO

Minister’s son-in-law arrested for extortion

By: Barkar Nash

On: October 24, 2023

In: South-East Asia

24 Oct 2023 at 21: 59 PUBLISHED

On Tuesday night, Deputy Interior Minister Chada Thaised’s son-in-law was detained in Uthai Thani responsibility on suspicion of extorting money from a faucet water company.

In Uthai Thani state on Tuesday night, a son-in-law of Deputy Interior Minister Chada Thaised, who was tasked with stifling powerful individuals across the country, was detained for alleged extortion of funds from an irrigation company.

The main suspect, 45-year-old Weerachart Rasamee, the governor of Talukdoo town and Mr. Chada’s son-in-law, was detained at a home in the Thap Than neighborhood of Thak.

His two employees were taken into custody at the provincial building. They were Kulathat Samakkhee, 23, associate legal works chief of the provincial office, and Thanapat Dulyathikan, 47, associate mayor.

At a tree of the Bank for Agriculture and Agricultural Cooperatives( BAAC ) in the Muang city of this northern province, two additional suspects were apprehended with 600,000 ringgit in cash. The men, Yingyong Khachachan, 30, and Manop Tittimanep, 51, were reportedly present to collect the money from the contractor who had been extorted.

The accusations were all refuted by the defendants.

The Anti-Corruption Division’s captain, Pol Maj Gen Charoonkiat Parnkaew, announced on Tuesday night that he had called Deputy Interior Minister Chada to examine the catch. Mr. Chada informed him that law enforcement may take legal action and that he had previously advised powerful individuals to stop their legal behavior.

Significant individuals across the country must be suppressed, according to the deputy interior minister.

Chada Thaisaed, a part of the Bhumjaithai Party, introduces the public to his political member card during the parliament. ( Image: Wichieanbut Nutthawat )

According to Pol Col. Prasong Chaloempan, the assistant commander of the Anti-Corruption Division, Mr. Weerachart authorized the bribery, Mrs. Thanapat, and Ms. Kulathat bargained with the victim before giving the money to Manop and Yingyong.

The builder who had won a contract to build two touch water techniques based on water for Talukdoo in Thap Than and tambon Hat Thanong of the Muang district was reportedly demanded 1 million ringgit by the group in September.

Despite threats to withdraw from the project’s digital bidding competition, the contractor prevailed this year.

As a result, the company was unable to buy building supplies from any nearby vendors. The next step was to demand that he spend 1 million ringgit for a green light. The target requested a reduction to 600,000 ringgit and scheduled the pay for Tuesday morning, when an organized sting operation would take place.

Weerachart Rasamee( Facebook pictures: Talukdoo municipality )

Barkar Nash (Page 935)

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