Asean trio agree on clean air initiative

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Thailand, Laos and Myanmar pledge to do more to address shared haze problems

PUBLISHED : 29 Oct 2024 at 20:25

Haze attributed mainly to crop burning hangs over Chiang Mai in December 2023. (Photo: Northern Development Foundation)
Haze attributed mainly to crop burning hangs over Chiang Mai in December 2023. (Photo: Northern Development Foundation)

Three Southeast Asian countries — Thailand, Laos and Myanmar — have launched a “Clear Sky Strategy 2024-2030” to solve the problems of cross-border smoke and haze pollution.

The launch ceremony took place on Tuesday at the Ministry of Foreign Affairs in Bangkok, with minister Maris Sangiampongsa joining Chalermchai Sri-on, the Minister of Natural Resources and Environment.

Also taking part were Bounkham Vorachit and Khin Maung Yi, the natural resources ministers of Laos and Myanmar, respectively.

Asean member states signed the Asean Agreement on Transboundary Haze Pollution in June 2022. In April 2023, Thailand hosted an online meeting with Laos and Myanmar to discuss how to tackle the intensifying haze situation in the three countries.

The latter meeting agreed to develop a “Clear Sky Strategy” that will serve as a work plan and a guide for sustainable cooperation.

“Clear” is an acronym for Continued Commitment, Leveraging Mechanisms, Experience Sharing, Air Quality Networks, and Response. Thailand will host a conference for all those who signed up for the agreement in Bangkok late this year.

Mr Maris said the action plan was born out of the necessity for Southeast Asia to address pollution from industry, transport, agriculture and, particularly, forest fires.

“As we approach the end of this year, when the air temperature begins to drop, we can expect PM2.5 to blow up again. Therefore, this plan addresses the issue in the region,” he said.

“It will also help us to harness cooperation with partners around the world.”

Mr Chalermchai said his ministry had stressed tackling forest fires and transboundary haze by “working closely with both (neighbouring) countries to create a concrete outcome”.

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South Korea eyes a rich BRICS road to the Global South – Asia Times

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In 2024, the BRICS nations continue to consolidate their influence in the global arena, collectively accounting for over 40% of the world’s population and approximately 30% of global GDP in purchasing power parity terms.

According to recent IMF projections, BRICS countries are set to contribute over 50% of global GDP growth in the coming years, underscoring their increasing weight in the international economic landscape.

China and India, in particular, remain the principal economic engines of the group, each maintaining robust trajectories fueled by China’s Belt and Road Initiative (BRI) and India’s ascendancy as a prominent manufacturing hub.

Complementing these giants, Russia leverages its vast energy resources, Brazil capitalizes on its agricultural and natural wealth and South Africa anchors the coalition’s outreach on the African continent. This strategic diversity enables BRICS to wield considerable influence in shaping global economic and political agendas.

Today, the BRICS is positioning itself as a counterweight to traditional Western-led financial institutions like the IMF and World Bank, aiming to restore balance and justice in the emerging global economic order.

Central to this effort is the New Development Bank (NDB), which began with an initial capital of US$100 billion to fund infrastructure and sustainable projects, extending beyond the BRICS members to other emerging economies.

This initiative, combined with efforts to promote trade in local currencies, reflects a strategy to reduce reliance on dollar-based systems and challenge Western dominance in global financial governance.

Moreover, BRICS has increasingly positioned itself as a representative of the Global South, advocating for principles of non-interference and mutual development.

The 2024 BRICS summit in Russia reinforced this by welcoming Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE, highlighting its ambition to form a more inclusive grouping with greater global influence.

Today, BRICS is not merely an economic grouping; it represents the desire of the Global South for a shift toward a multipolar global order, with the grouping increasingly diverging from Western narratives on critical geopolitical issues.

This rising influence is reflected in efforts to reshape the international financial architecture, promote new development models, and challenge the dominance of Western-led institutions in international politics.

The group’s coherence in advancing the interests of the Global South and its proactive pursuit of economic sovereignty and technological self-reliance is pivotal to its vision of a new world order.

Strategic Seoul positioning

South Korea’s rise as a major economic and technological player has positioned it as an influential actor in global geopolitics. As a significant member of the G20 and an active participant in multilateral forums, South Korea has consistently advocated for greater representation of emerging economies in global governance institutions.

Despite its non-membership in BRICS, South Korea shares many of the coalition’s aspirations, particularly in diversifying economic partnerships and reducing dependence on a Western-centric international order.

South Korea’s strategic policies, such as the New Southern Policy (NSP), emphasize greater engagement with emerging economies in South and Southeast Asia, regions where BRICS nations, particularly India, hold considerable sway.

Furthermore, South Korea’s Indo-Pacific strategy aligns with BRICS interests, particularly in fostering connectivity and infrastructure development, providing fertile ground for deeper engagement on both bilateral and multilateral platforms.

For South Korea, closer cooperation with BRICS offers numerous benefits. By actively engaging with BRICS-led initiatives such as the NDB, South Korea can gain a foothold in emerging financial frameworks, reducing its reliance on traditional Western financial systems and broadening its influence in global economic governance.

This involvement also positions South Korea as a neutral partner that bridges traditional Western alliances with emerging powers in BRICS, enhancing its diplomatic leverage and strategic flexibility in an increasingly multipolar world.

The diversification of its export markets, supply chains, and diplomatic engagements through partnerships with BRICS nations will be essential for maintaining competitiveness and securing long-term interests.

Collaborating with BRICS institutions also provides South Korea the opportunity to access emerging markets and participate in the growing regional integration efforts among BRICS members and their allies.

India-South Korea in BRICS embrace

India and South Korea are already strong strategic and economic partners. However, as BRICS expands its influence in the global arena with India as a key player, it presents a unique opportunity for South Korea to enhance its global status by strengthening its bilateral ties and collaborating more closely on global security and strategic issues.

Both nations possess complementary strengths and shared interests, making cooperation increasingly beneficial amid shifting global dynamics. India and South Korea have established a robust economic partnership, but there is still significant potential to deepen trade and investment ties.

In the wake of BRICS’ rise, the two countries could focus on expanding the Comprehensive Economic Partnership Agreement (CEPA) to include areas such as digital trade, intellectual property rights, and services. This would not only provide preferential market access and boost bilateral trade volumes but also help South Korea strengthen its ties with the Global South.

Additionally, South Korea can leverage India as an alternative manufacturing hub amid shifting global supply chains, particularly in electronics, semiconductors and automotive manufacturing.

Participation in India’s ambitious infrastructure projects, such as the National Infrastructure Pipeline (NIP) and the Smart Cities Mission, presents further opportunities for Korean firms to expand their influence and capitalize on India’s rapid growth trajectory, reinforcing South Korea’s engagement with BRICS countries.

The evolving geopolitical landscape demands stronger strategic ties between South Korea and the Global South. Closer cooperation with India in maintaining a free and inclusive Indo-Pacific region, enhancing naval coordination, and strengthening joint efforts in counter-piracy and counterterrorism operations will bolster regional security and stability, enhancing South Korea’s role as a net security provider.

Moreover, the defense industries of both countries offer scope for collaboration in areas such as co-production of defense systems and joint development of critical technologies like missile defense, drones, and cybersecurity, reducing the Global South’s dependence on Western defense industries for national defense capabilities.

Both India and South Korea are leaders in innovation and technology, and collaboration in emerging fields such as artificial intelligence, renewable energy, quantum computing, and green technologies can yield substantial benefits not only for their national economies but also for the wider region and the Global South.

South Korea’s leadership in semiconductors can further support India’s ambitions to build a robust semiconductor ecosystem through joint investments and technology transfers, thereby boosting India’s position within the Global South.

Strengthening cultural ties and enhancing people-to-people exchanges are essential for sustaining deeper collaboration. By deepening academic exchanges, providing scholarships, establishing joint research centers, and promoting cultural collaborations in areas such as film, music, and cuisine, South Korea can enhance mutual understanding and support broader partnerships with India.

This cultural engagement can serve as a gateway for South Korea to connect with BRICS nations and the Global South, which has been a challenge due to its close ties with the United States and Western-dominated institutions. Developing deeper cultural relations with India can correct this diplomatic anomaly and allow South Korea to extend its engagement beyond the US and the West.

India and South Korea share common values of democracy, development and international cooperation. With the rise of BRICS, India can act as a bridge, bringing South Korean perspectives into multilateral dialogues. Joint efforts in platforms like the G20, UN, and ASEAN can enhance diplomatic influence and promote shared interests, including global governance reforms, climate action and cybersecurity.

Sustainability remains a key concern for South Korea. Collaborative projects with India and BRICS member countries in renewable energy infrastructure, smart grids, electric mobility, and autonomous transportation systems can contribute to mutual energy security and support a sustainable future while integrating South Korea’s economy more deeply with the rising Global South. By focusing on green technologies, India and South Korea can play a pivotal role in the global energy transition.

South Korea’s engagement with BRICS, especially through its strengthened partnership with India, offers a strategic pathway for enhancing its global influence and securing its long-term interests in an evolving multipolar world.

A robust partnership for a new era

As a member of the US-led security order in Northeast Asia and heavily dependent on the United States for its security and economic prosperity, it may not be easy for South Korea to become a member of BRICS in the near future.

However, as the global order evolves with the rise of BRICS, South Korea is uniquely positioned to enhance its cooperation and engage in BRICS initiatives. The rise of BRICS signifies a shift towards a multipolar global order, wherein traditional power dynamics are being redefined, and emerging economies are asserting their influence on the world stage.

By proactively engaging with BRICS, South Korea can secure strategic advantages, reduce dependency on traditional Western institutions, and expand its economic and geopolitical reach.

South Korea’s strategic positioning as an intermediary between Western alliances and BRICS nations presents an opportunity to shape regional and global dialogues, ensuring that its voice remains influential amidst shifting power structures.

By focusing on strategic, economic, and technological collaboration with India and engaging with the broader BRICS coalition, South Korea can protect its interests, seize new opportunities and bolster its status in an increasingly multipolar world.

The foundation of South Korea’s partnership with India rests on shared values, mutual trust, and complementary strengths, making their cooperation pivotal for navigating the uncertainties of a changing global landscape.

Actively engaging with BRICS allows South Korea to align itself with a coalition that is reshaping the global order, securing its position as a key player in the evolving multipolar landscape, and expanding its influence on the global stage.

This proactive engagement not only enhances South Korea’s diplomatic and economic leverage but also solidifies its role as a dynamic actor in a redefined global order, positioning itself as a bridge between emerging powers and established global players.

It is time for South Korea to adjust its diplomatic strategy to claim its due place in the emerging new order in the region.

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Commentary: With just days to US presidential election, two takeaways for Singapore

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Trump, on the other hand, would present much more risk vis-a-vis his China policy. His tariff threats would wreak havoc on global trade and supply chains if carried out. He may also go even further, considering one of his former Cabinet members called for a complete decoupling from China. The trading system would eventually recover, but not before suffering prolonged turbulence.

Despite this, a second Trump administration may counterintuitively make inroads with Southeast Asian governments.

His transactional approach may find more support in Southeast Asia, where governments prefer to talk about deliverables such as investment deals instead of human rights and values. He may also find common ground and personal rapport with regional leaders such as Indonesian President Prabowo Subianto, given his affinity with strongmen who can “get things done” regardless of conventional restraints. Singapore leaders might have to change tack, planning more one-on-one discussions between heads of government to secure commitments from the US.

TAKEAWAYS FOR SINGAPORE

Neither scenario is risk-free. Far from being a cliche, Singapore should prepare for a bumpy road ahead, regardless of who wins.

Harris may provide the multilateral leadership that Singapore wants on issues such as climate change but fail to resuscitate US policy on Southeast Asia. Trump might make inroads with Southeast Asian leaders but cause chaos with his trade and China policies. While building on the same strategic understandings, the exact shape of these policies will depend on the advisers the victorious candidate employ.

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Transforming digital finance

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Ascend Money chief Monsinee Nakapanant keen to untap the potential of the region’s underserved markets

Ms Monsinee
Ms Monsinee

Leading fintech company Ascend Money, under the leadership of co-president Monsinee Nakapanant, has played a key role in promoting financial inclusion and transforming the digital finance landscape in Southeast Asia.

The fintech arm of Charoen Pokphand Group became Thailand’s first fintech unicorn in 2021. It is now aiming to list on the Nasdaq stock market, according to its founder and chairman Suphachai Chearavanont.

Now, the company has around 32 million active customers in Thailand.

“I am incredibly proud of leading Ascend Money’s journey towards financial inclusion and transforming the digital finance landscape in Southeast Asia,” Ms Monsinee said.

“One of my proudest milestones is reaching over 32 million users in Thailand, which reflects our ability to deliver inclusive financial services to underserved populations nationwide.”

Another key moment for the company was expanding the presence of its TrueMoney application across six countries — Myanmar, Cambodia, Vietnam, the Philippines, Indonesia, and Malaysia — and establishing Ascend Money as a leading regional fintech company, she said.

“Bringing essential financial services to previously unserved populations and witnessing the positive impact on their quality of life is one of my greatest achievements,” Ms Monsinee added.

The TrueMoney app began as a payment platform for those with limited access to traditional financial services. The app’s users can make payments and transfers from their mobile phones at any time.

TrueMoney has transformed into a digital financial super app, offering offline and online payments, high-interest savings accounts, retirement savings, mutual funds, gold investments, microcredit, and personal loans.

“I am especially proud of how our platform has improved the lives of migrant workers in Thailand, particularly from Myanmar and Cambodia, enabling them to make cashless purchases and transfer money home quickly, safely, and affordably,” Ms Monsinee said.

She said the continued support from the firm’s investors and partners is a testament to the trust they place in the company and its mission.

Ms Monsinee said that in the early days of the Thai fintech industry, overcoming challenges required innovative thinking, strong teamwork, and a commitment to the company’s mission.

Key to the company’s success was prioritising customer needs. By understanding the pain points of underserved populations, Ascend Money developed groundbreaking digital financial products. This customer-first approach led to tangible benefits, such as micro-insurance and accessible investment options, empowering individuals to secure their financial futures.

“Innovation is woven into our DNA, and we cultivate a culture of continuous learning and experimentation. Our strong startup spirit encourages us to push boundaries and respond urgently to market changes, ensuring we stay ahead in the fast-evolving digital economy,” Ms Monsinee said.

This mindset has led to initiatives like the company’s rapid loan processing and buy-now-pay-later solutions, providing accessible credit to those without traditional income records and ensuring they can secure financial assistance responsibly.

The company also prioritises a harmonious team culture rooted in clear communication and collaboration without hierarchy. It also promotes the team’s analytical thinking to drive continuous improvement in customer service and product innovation.

Ms Monsinee said Thailand’s fintech sector is poised for significant growth over the next two years, thanks to ongoing digital transformation and rising demand for cashless solutions.

“We are at the forefront of a revolution in financial services. The rise of virtual banking, embedded finance, and AI-driven solutions will play pivotal roles in shaping the future of how people interact with financial institutions,” Ms Monsinee added.

She said that Ascend Money sees tremendous opportunities to further expand financial inclusion. It will focus on enhancing digital payments, providing more credit solutions, and leveraging alternative data to empower unserved and underserved segments, particularly micro and small enterprises.

“We also recognise that financial literacy is crucial for ensuring sustainable growth, and we will continue to invest in initiatives that help individuals better manage their finances,” Ms Monsinee said.

In terms of challenges, the rapid pace of technological advancements and regulatory changes will require agility and collaboration. Cybersecurity will remain a top priority as more people engage with digital financial services.

“We will focus on leveraging AI and machine learning to personalise financial solutions and offer targeted services. We will continue working closely with regulators and stakeholders to foster innovation while safeguarding consumer interests,” Ms Monsinee said.

Monsinee Nakapanant

Co-president of Ascend Money Group

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Forget Gaza and Ukraine, East Asia’s brewing war will matter more – Asia Times

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MANILA–All major global powers are flexing muscles in East Asian waters, with the US, China and even Russia conducting major drills across the Western Pacific and Southeast Asia in recent days. While global attention focuses on the potential for a major conflagration in the Middle East, great powers are sleepwalking toward conflict in Asia.

Last week, the US destroyer USS Dewey (DDG-105) and Royal Australian Navy frigate HMAS Stuart (FFH153) conducted bilateral operations in the Strait of Malacca, a show of joint force in a crucial maritime chokepoint. China’s People’s Liberation Army Navy responded by deploying its Dongdiao class surveillance ships to the East and South China Sea.

Beyond naval deployments, Washington and Beijing have also been fortifying their military presence in the area. The US will likely retain the Typhon missile system in the Philippines for the foreseeable future after its controversial deployment ahead of the Balikatan annual exercises earlier this year.

A top US general publicly hailed the move as “incredibly important” to American regional strategy, namely the Biden administration’s aim to establish an arc of military alliances and missile defense systems across the Western Pacific in anticipation of a potential direct conflict with China.

For Beijing’s part, the Asian superpower is building its own network of stealth-penetrating radars in adjacent waters to counter American air superiority in the event of a contingency.

Once completed, the new facilities will “significantly increase China’s signals intercept and electronic warfare capabilities across the disputed Paracel Islands archipelago and add to a wider surveillance network spanning much of the South China Sea,” a report by the UK think tank Chatham House argues.

Although concentrated on Ukraine, Russia has also flexed its naval muscle and doubled down on its military diplomacy by conducting drills in Myanmar and, for the first time, Indonesia, where newly inaugurated President Prabowo Subianto is expected to adopt a more proactive and multi-aligned foreign policy.

To underscore its growing resolve, Southeast Asia’s largest nation also recently drove away a Chinese coast guard vessel entering Indonesia’s exclusive economic zone in the so-called North Natuna Sea.

Meanwhile, Vietnam, following a few short years of relatively calm ties with its northern neighbor, is also doubling down on its military footprint in the disputed waters.

To prepare for possible conflict with China in adjacent waters, the Southeast Asian dynamo is adding a new 1.5 kilometer to its sprawling network of military facilities across the South China Sea, where it controls up to 27 land features.

Decades of rapid economic growth and expanding trade have disincentivized any major conflict in Asia over the past quarter of a century. The last time two regional states came to blows was the bloody skirmishes between Vietnamese and Chinese troops in 1988 over the disputed Johnson South Reef in the South China Sea. 

Over the next three decades, however, China managed to build vast networks of influence and trade across the region, while also dramatically deepening its economic interdependence with the US and its key Asian allies of Japan, Australia and South Korea.

Today, Southeast Asia is the largest export destination for Chinese products, while China is a major investor and source of technology in much of the region. Bilateral trade between Beijing and major Western economies is also in the trillions of dollars annually, underscoring the depth of economic ties among all major players in the Indo-Pacific.

For the past three decades, almost all regional states, regardless of their political systems, have relied on economic performance for public legitimacy. But China’s rapid rise, America’s domestic and foreign policy troubles and intensified disputes across the Western Pacific have created a geopolitical tinderbox of unprecedented magnitude involving multiple major powers and the world’s biggest and most dynamic economies.

The Biden administration has relied on an “integrated deterrence” strategy, which seeks to leverage its vast network of alliances in the region to constrain China’s assertiveness. Accordingly, it has also expanded joint drills with key regional allies such as Australia.

“Every time we operate together, we strengthen our capabilities and shared commitment to a free and open Indo-Pacific,” US Vice Admiral Fred Kacher, commander of the US 7th Fleet, said in a statement following the latest US-Australia drills reaching from Taiwan Straits to the Malacca Straits. “This exercise further builds on our existing interoperability and combined readiness we have with the Royal Australian Navy,” he added.

For China, however, these exercises are both provocative and an impetus for further enhancing its own military presence in disputed areas. The PLA-Navy’s Dongdiao-class surveillance ship Tianshuxing (795) was sighted last week just 62 miles west of the island of Amami Oshima of Japan before heading for the Philippine Sea in the Western Pacific.

Chinese Liaoning Carrier Strike Group, meanwhile, reportedly sailed north through the Taiwan Strait.

China is also preparing for high-tech warfare by strengthening its electronic war capacity. According to the Chatham House report, China is building new stealth-penetrating radar systems based on satellite imagery that show distinctive hexagonal grouping of SIAR synthetic impulse and aperture radar) poles, a control tower and several mobile missile staging pads on the Triton Island in the disputed Paracel Islands archipelago

According to the Chatham House report, “Once completed, the radar on Triton will form what is believed to be a wider network of at least three overlapping counter-stealth radars built across Chinese bases in the South China Sea over the past decade.”

China seems to be reacting to growing American combat stealth aircraft deployments across the region, including F-22 Raptor stealth fighters, B-2 Spirit stealth bombers, and F-35 stealth fighters.

Earlier this year, the US Air Force deployed as many as 186 F-22s to participate in Australia’s major Pitch Black international air combat exercise. American stealth fighters – both F22s and F-35s – have also visited Singapore, Indonesia (Bali), Brunei, Thailand and the Philippines.

US Pacific Air Forces commander Kevin Schneider said the fighters’ rising presence in the South China Sea is a reflection of the “growing understanding and awareness of the threat posed by Beijing in their illegal, coercive, aggressive, and deceptive activities.”

He claimed there is a “greater desire [of our regional partners] to do more and a willingness to allow us to transit airplanes through their locations, their willingness to expand exercises to be perhaps more realistic for the threat environments that we face.”

Meanwhile, a Russia Navy surface action group consisting of corvettes, consisting of RFS Hero of the Russian Federation Aldar Tsydenzhapov (339), RFS Rezkiy (343) and RFS Gromkiy (335) recently conducted joint drills with Myanmar counterparts in the Indian Ocean.

“The main objective of the exercise is to comprehensively develop and strengthen naval cooperation between the countries, jointly counter global threats and ensure the safety of civilian shipping in the Asia-Pacific region,” Russia said in a joint statement.

In coming weeks, the Russia Navy contingent will join Indonesian counterparts in Surabaya, Java, for the Orruda 2024 exercises. Under the newly installed Prabowo administration, Indonesia is expected to adopt an Indian-style assertive and multi-aligned foreign policy vis-à-vis all major powers.

“The China Coast Guard-5402 (CCG-5402) re-entered the Indonesian jurisdiction on Friday,” Indonesia’s Maritime Security Agency said in a statement issued on October 26 after repelling a Chinese coast guard vessel intruding into Indonesian waters at the southern edge of the South China Sea.

“Indonesia has a sovereign right to explore the natural resource in that area and that cannot be disturbed by any country,” the Indonesia maritime agency said in a statement.

Neighboring Vietnam, in turn, is also expected to adopt an increasingly assertive stance amid ongoing disputes with China in disputed waters. Last month, several Vietnamese fishermen were severely beaten and injured after being apprehended by Chinese authorities in the disputed Paracel Islands.

Vietnam condemned China and “demanded that Beijing respect its sovereignty in the Paracel Islands, launch an investigation and provide it with information about the attack.” Far from confined to diplomatic protests, Vietnam is quietly preparing for military contingencies by building what could be its largest airstrip in the disputed South China Sea.

Since 2021, Vietnam has dramatically enhanced its military presence on the Barque Canada reef, which could soon host a modern airstrip that could extend as long as three kilometers in coming years amid rapid reconstruction.

“The new airstrip will considerably expand Vietnam’s maritime patrol capabilities as the existing runway on Spratly Island is too short for larger aircraft,” said Gregory Poling, director of the Asia Maritime Transparency Initiative at the Washington-based Center for Strategic and International Studies think tank, told the media.

Follow Richard Javad Heydarian on X at @Richeydarian

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OR banking on diversification strategy

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CEO Disathat Panyarachun oversees expansion from oil retail to healthcare and beauty products

PUBLISHED : 28 Oct 2024 at 04:30

While it would be a challenge for OR to enter the healthcare and beauty business sector, the move is expected to generate revenue fir the company, Mr Disathat said.
While it would be a challenge for OR to enter the healthcare and beauty business sector, the move is expected to generate revenue fir the company, Mr Disathat said.

The transformation of a business to ensure its survival in response to technological disruption requires a varied approach, according to Disathat Panyarachun.

The chief executive officer of PTT Oil and Retail Business Plc (OR) is not opposed to making changes within a business in response to disruption, but in his opinion such steps are often carried out when it’s already “a bit too late”.

Rather, Mr Disathat is a proponent of individuals trying to “disrupt themselves” first, before the emergence of any tech disruption. This approach has enabled him to prove that he has guided and directed OR on the right track, ensuring the company is able to further grow from the expansion of its non-oil businesses.

From developing electric vehicle (EV) charging facilities to selling healthcare and beauty products, OR’s business diversification has provided opportunities to fuel the company’s growth amid technological upheaval and the emergence of new societal and lifestyle trends.

Mr Disathat continues to get behind OR’s plan to roll out more EV charging stations at PTT petrol stations to serve EV motorists, a move that aligns with the global trend of promoting greater EV usage.

Like other oil retailers, OR saw the impact of increasing numbers of battery-powered vehicles on the country’s roads had on oil sales. This led the company to rapidly roll out charging services for EV motorists at its petrol stations. Indeed, it was one of the first to do so.

Mr Disathat says OR needs to rapidly become part of the EV ecosystem before electric-powered vehicles make an even bigger dent on the demand for oil in the future. Global demand for oil is expected to rise by 5% to a peak of 50 million barrels per day by 2032, with oil use per vehicle likely to fall sharply as EVs are expected to account for more than half of all auto sales by 2040, according to a report released in June 2024 by Goldman Sachs Research, a division of Goldman Sachs Group, a global investment banking, securities and wealth management firm.

The development of EV charging stations is part of OR’s “Beyond Fuel” concept, which also includes the company’s food and beverage business. This prioritises matching OR’s product and service offerings with the demands of consumers amid new societal and lifestyle trends.

OR has long been working towards realising the Beyond Fuel goal by embarking on non-oil ventures rather than remaining in the comfort zone by enjoying its long-established status as a major oil retailer, said Mr Disathat. “We don’t care what new energies there will be in the future. What we have to do is to maintain our leadership position as we do in the oil retail sector,” he said.

The company wants EV charging stations to provide another alternative service for motorists, which will also provide OR with a new business opportunity. OR earlier announced it plans to increase its investment in the battery charging business through its EV Station PluZ plan. The company expects to have 600 EV charging outlets nationwide within this year, up from 400 outlets as of July 2023. The longer-term aim is to raise the number of outlets to 7,000 by 2030.

Another non-oil business OR is keen on promoting is the sale of healthcare and beauty products, representing another aspect of the company’s shift away from its decades-long role as an oil retailer.

While visiting a petrol station, consumers can now experience a one-stop shop by selecting a tasty dish, sipping some refreshing coffee and purchasing from a range of alluring cosmetics and skincare products. Thailand is now the second largest healthcare and beauty market in Southeast Asia and OR is keen to tap into this significant business opportunity.

Through its subsidiary OR Health and Wellness, OR took the step of venturing into the health and beauty business by partnering with Sugi Holdings, a Japanese drugstore chain and nanotech platform operator.

OR plans to open up to 10 shops named “found & found” by year end to increase sales of these products. Mr Disathat said while it would be a challenge for OR to enter the healthcare and beauty business sector, which has a local market value estimated at 1 trillion baht, the step is expected to generate revenue for the company.

Disathat Panyarachun 

Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR)

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Keeping Thailand’s top retailer front, right and Central

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Central Dept Store Group CEO Natira Boonsri creates iconic stores to give customers a world-class experience

PUBLISHED : 28 Oct 2024 at 04:30

NEWSPAPER SECTION: News

Natira Boonsri, Chief Executive Officer of Central Department Store Group (CDG) under Central Retail, leads one of the most prominent department store groups in Thailand and Southeast Asia, overseeing the iconic Central and Robinson Department Stores.

With nearly 20 years of experience in the retail industry, Natira has successfully driven the transformation of several key retail spaces to meet modern consumer demands.

One of her most notable projects includes the complete transformation to elevate Central Chidlom which opened its doors in 1973 to become a truly iconic constant of Thailand’s luxury shopping destination, positioning it as “The Store of Bangkok”. This ambitious project reflects her visionary approach to retail and her ability to navigate the evolving market landscape.

Ms Natira’s journey in retail began after earning a bachelor’s degree in Economics from Boston College and an MBA from Harvard Business School. She started her career as a consultant at Boston Consulting Group (BCG) before joining Central Retail in 2005 as project development director.

Central Department Store Group CEO Natira Boonsri

Central Department Store Group CEO Natira Boonsri

By 2014, she had become president of Zen Department Store and senior vice president of Central Department Store, where she demonstrated her leadership skills by spearheading major renovations at CentralWorld and Central Ladprao. In 2018, she was appointed president of Central Department Store, and in 2021, she transitioned to Chief Commercial Officer of Central Retail Corporation Plc (CRC). She returned to CDG as CEO shortly thereafter.

Ms Natira, a third-generation member of the Chirathivat family, which owns and operates Central Group, is the eldest daughter of Boonbunlue and Ratana (Chirathivat) Norpanlob. She is married to Nathavud Boonsri and has two children, Napat and Narisa.

Among her accomplishments is the transformation of Zen Department Store into CENTRAL@centralwOrld, a key project that revitalised one of Bangkok’s busiest shopping districts. Ms Natira invested over 1 billion baht in this renovation, transforming the 50,000-square-metre space into a hub that integrates shopping, dining, and leisure experiences for customers. The move also introduced more than 3,000 brands, creating a blend of retail and lifestyle offerings. Ms Natira emphasised this transformation was not just about shopping — it was about enhancing the overall customer experience.

Under her leadership, CENTRAL@centralwOrld has become a model for integrating omni-channel strategies, allowing for a seamless, personalised shopping experience both online and offline. She plans to extend this model across an additional 20 out of 23 Central locations in five years.

Ms Natira’s commitment to retail transformation goes beyond physical renovations. Her focus is on understanding changing consumer preferences and driving innovation. She remains dedicated to enhancing the customer experience by offering new brands and services that align with modern lifestyles.

Ms Natira says every renovation is a team effort. It needs to work closely with marketing, communications, and brand teams to ensure the firm offers the best products and services for customers. Seeing customers happy and enjoying the new spaces is the greatest source of pride.

Beyond business, Ms Natira is committed to corporate social responsibility (CSR) and creating shared value (CSV). She is focused on not only driving profitability but also contributing to the environment and society. By placing customers at the heart of the business and leveraging innovation and development, she is ensuring Central Department Stores remain a leader in the retail industry. Through her leadership, Natira Boonsri is shaping the future of retail in Thailand, embodying a commitment to excellence and transformation.

Natira Boonsri

Chief Executive Officer of Central Department Store Group, under Central Retail

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CEO of the Year 2024

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The ‘Bangkok Post’ is today running the third of its ‘Bangkok Post CEO of the Year 2024’ series with the profiles of three more CEOs who received awards.

We honour Disathat Panyarachun, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR), as the CEO of the Year in Sustainable Business Leadership; Woraphot Thavornwan, General Manager of Lenovo Thailand and Rest of Indochina, as the CEO of the Year in Transformational Tech Leadership; and Natira Boonsri, Chief Executive Officer of Central Department Store Group, under Central Retail, as the CEO of the Year in Retail Transformation Excellence.

Natira Boonsri Chief Executive Officer of Central Department Store Group, under Central Retail

Natira Boonsri Chief Executive Officer of Central Department Store Group, under Central Retail

Keeping Thailand’s top retailer front, right and Central

Central Dept Store Group CEO Natira Boonsri creates iconic stores to give customers a world-class experience

Natira Boonsri, Chief Executive Officer of Central Department Store Group (CDG) under Central Retail, leads one of the most prominent department store groups in Thailand and Southeast Asia, overseeing the iconic Central and Robinson Department Stores.

With nearly 20 years of experience in the retail industry, Natira has successfully driven the transformation of several key retail spaces to meet modern consumer demands.

One of her most notable projects includes the complete transformation to elevate Central Chidlom which opened its doors in 1973 to become a truly iconic constant of Thailand’s luxury shopping destination, positioning it as “The Store of Bangkok”. This ambitious project reflects her visionary approach to retail and her ability to navigate the evolving market landscape.

Ms Natira’s journey in retail began after earning a bachelor’s degree in Economics from Boston College and an MBA from Harvard Business School. She started her career as a consultant at Boston Consulting Group (BCG) before joining Central Retail in 2005 as project development director.

By 2014, she had become president of Zen Department Store and senior vice president of Central Department Store, where she demonstrated her leadership skills by spearheading major renovations at CentralWorld and Central Ladprao. In 2018, she was appointed president of Central Department Store, and in 2021, she transitioned to Chief Commercial Officer of Central Retail Corporation Plc (CRC). She returned to CDG as CEO shortly thereafter.

Ms Natira, a third-generation member of the Chirathivat family, which owns and operates Central Group, is the eldest daughter of Boonbunlue and Ratana (Chirathivat) Norpanlob. She is married to Nathavud Boonsri and has two children, Napat and Narisa.

Among her accomplishments is the transformation of Zen Department Store into CENTRAL@centralwOrld, a key project that revitalised one of Bangkok’s busiest shopping districts. Ms Natira invested over 1 billion baht in this renovation, transforming the 50,000-square-metre space into a hub that integrates shopping, dining, and leisure experiences for customers. The move also introduced more than 3,000 brands, creating a blend of retail and lifestyle offerings. Ms Natira emphasised this transformation was not just about shopping — it was about enhancing the overall customer experience.

Under her leadership, CENTRAL@centralwOrld has become a model for integrating omni-channel strategies, allowing for a seamless, personalised shopping experience both online and offline. She plans to extend this model across an additional 20 out of 23 Central locations in five years.

Ms Natira’s commitment to retail transformation goes beyond physical renovations. Her focus is on understanding changing consumer preferences and driving innovation. She remains dedicated to enhancing the customer experience by offering new brands and services that align with modern lifestyles.

Ms Natira says every renovation is a team effort. It needs to work closely with marketing, communications, and brand teams to ensure the firm offers the best products and services for customers. Seeing customers happy and enjoying the new spaces is the greatest source of pride.

Beyond business, Ms Natira is committed to corporate social responsibility (CSR) and creating shared value (CSV). She is focused on not only driving profitability but also contributing to the environment and society. By placing customers at the heart of the business and leveraging innovation and development, she is ensuring Central Department Stores remain a leader in the retail industry. Through her leadership, Natira Boonsri is shaping the future of retail in Thailand, embodying a commitment to excellence and transformation.

Natira BoonsriChief Executive Officer ofCentral Department Store Group,under Central Retail

While it would be a challenge for OR to enter the healthcare and beauty business sector, the move is expected to generate revenue fir the company, Mr Disathat said.

While it would be a challenge for OR to enter the healthcare and beauty business sector, the move is expected to generate revenue fir the company, Mr Disathat said.

OR banking on diversification strategy

CEO Disathat Panyarachun oversees expansion from oil retail to healthcare and beauty products

The transformation of a business to ensure its survival in response to technological disruption requires a varied approach, according to Disathat Panyarachun.

The chief executive officer of PTT Oil and Retail Business Plc (OR) is not opposed to making changes within a business in response to disruption, but in his opinion such steps are often carried out when it’s already “a bit too late”.

Rather, Mr Disathat is a proponent of individuals trying to “disrupt themselves” first, before the emergence of any tech disruption. This approach has enabled him to prove that he has guided and directed OR on the right track, ensuring the company is able to further grow from the expansion of its non-oil businesses.

From developing electric vehicle (EV) charging facilities to selling healthcare and beauty products, OR’s business diversification has provided opportunities to fuel the company’s growth amid technological upheaval and the emergence of new societal and lifestyle trends.

Mr Disathat continues to get behind OR’s plan to roll out more EV charging stations at PTT petrol stations to serve EV motorists, a move that aligns with the global trend of promoting greater EV usage.

Like other oil retailers, OR saw the impact of increasing numbers of battery-powered vehicles on the country’s roads had on oil sales. This led the company to rapidly roll out charging services for EV motorists at its petrol stations. Indeed, it was one of the first to do so.

Mr Disathat says OR needs to rapidly become part of the EV ecosystem before electric-powered vehicles make an even bigger dent on the demand for oil in the future. Global demand for oil is expected to rise by 5% to a peak of 50 million barrels per day by 2032, with oil use per vehicle likely to fall sharply as EVs are expected to account for more than half of all auto sales by 2040, according to a report released in June 2024 by Goldman Sachs Research, a division of Goldman Sachs Group, a global investment banking, securities and wealth management firm.

The development of EV charging stations is part of OR’s “Beyond Fuel” concept, which also includes the company’s food and beverage business. This prioritises matching OR’s product and service offerings with the demands of consumers amid new societal and lifestyle trends.

OR has long been working towards realising the Beyond Fuel goal by embarking on non-oil ventures rather than remaining in the comfort zone by enjoying its long-established status as a major oil retailer, said Mr Disathat. “We don’t care what new energies there will be in the future. What we have to do is to maintain our leadership position as we do in the oil retail sector,” he said.

The company wants EV charging stations to provide another alternative service for motorists, which will also provide OR with a new business opportunity. OR earlier announced it plans to increase its investment in the battery charging business through its EV Station PluZ plan. The company expects to have 600 EV charging outlets nationwide within this year, up from 400 outlets as of July 2023. The longer-term aim is to raise the number of outlets to 7,000 by 2030.

Another non-oil business OR is keen on promoting is the sale of healthcare and beauty products, representing another aspect of the company’s shift away from its decades-long role as an oil retailer.

While visiting a petrol station, consumers can now experience a one-stop shop by selecting a tasty dish, sipping some refreshing coffee and purchasing from a range of alluring cosmetics and skincare products. Thailand is now the second largest healthcare and beauty market in Southeast Asia and OR is keen to tap into this significant business opportunity.

Through its subsidiary OR Health and Wellness, OR took the step of venturing into the health and beauty business by partnering with Sugi Holdings, a Japanese drugstore chain and nanotech platform operator.

OR plans to open up to 10 shops named “found & found” by year end to increase sales of these products. Mr Disathat said while it would be a challenge for OR to enter the healthcare and beauty business sector, which has a local market value estimated at 1 trillion baht, the step is expected to generate revenue for the company.

Disathat Panyarachun Chief Executive Officer of PTT Oiland Retail Business Public Company Limited (OR)

Woraphot ThavornwanGeneral Manager of Lenovo Thailand and Rest of Indochina

Woraphot ThavornwanGeneral Manager of Lenovo Thailand and Rest of Indochina

Ensuring Lenovo’s sustainable future

Woraphot Thavornwan, General Manager of Lenovo Thailand and Rest of Indochina, is on a mission to drive Thailand towards intelligent transformation

Lenovo Thailand, under the leadership of general manager Woraphot Thavornwan, has successfully transformed from a computer hardware-centric organisation to a comprehensive AI-powered services and solutions provider as the market matures, ensuring a sustainable future.

Thailand is one of the top markets for Lenovo in Asia-Pacific. Mr Woraphot’s mission is to drive Thailand towards intelligent transformation.

In 2020 he was appointed Lenovo’s director of the consumer business division in Thailand, where he played a crucial role in driving the consumer and retail business forward. After that, Mr Woraphot was promoted to general manager for Myanmar, Laos and Cambodia, overseeing diverse markets and demonstrating his adaptability.

In his current role, he has positioned Lenovo Thailand as the market leader in the computer segment, showcasing his ability to excel in a competitive environment.

Mr Woraphot said Lenovo has been a leading company in the PC industry for many years and has continued to hold the No.1 position globally. In the latest quarterly report by IT research house IDC, the company remains in the top position. “Over the past few years, we’ve transformed our organisation into three business groups. First is the Intelligent Device Group (IDG), which encompasses a range of products, including tablets, desktops, notebooks and workstations,” he said.

The second is the Infrastructure Solutions Group (ISG), which covers servers, storage, cloud solutions and security products, providing end-to-end solutions.

The third is the Solutions and Services Group (SSG), dedicated to delivering comprehensive, tailored solutions across various industries, including manufacturing, food and beverage, hospitality and finance.

“Our clear strategy and strong execution, as well as our persistent focus on innovation and operational excellence resulted in revenue improvement across all business groups in the recent quarter, with 47% of revenue coming from non-PC sources,” said Mr Woraphot.

Lenovo is implementing its One Lenovo strategy, where a single account executive or sales representative will be able to provide comprehensive end-to-end solutions — from edge to cloud to customers, which reduces working redundancies, he said.

This approach allows Lenovo to tailor its offerings to meet the specific needs of end-users across various industries in Thailand and the Indochina region. “We’ve invested time and resources in upskilling our sales team to ensure we retain the necessary skills to stay ahead of the curve,” said Mr Woraphot.

He said understanding this structural shift is crucial. The company has also leveraged artificial intelligence (AI) to enhance its organisational capabilities and help customers adapt to the changes. “The key is our ability to adjust our methodologies to deliver a seamless value chain, from our products, ranging from edge devices to cloud infrastructure equipment, ensuring fluency in serving our customers. I believe we’re on the right path and will win in the market,” said Mr Woraphot.

He said every success stems from a deep understanding of the customers. “Delivering smarter technology for all is not an easy task, but we’ve made significant investments in research and development — standing at US$476 million in the last fiscal year. Remarkably, one in every four employees is dedicated to R&D, with more than 18 locations delivering products across 180 markets,” said Mr Woraphot.

“Our success is largely due to our commitment to listening to the market. In the consumer segment, we offer a wide range of AI PCs and devices, while in the commercial sector, we provide a comprehensive suite of solutions — from edge to cloud, including client technology, networking and intelligent infrastructure.”

He said Lenovo is well-prepared to serve various markets with the right talent. In Thailand, for example, the company has a full range of training programmes to develop the workforce. This enables the company to respond to changes, serve customers and partners better, and ensure the best products from its R&D efforts reach end-users through business partners. “This holistic approach is how we achieve success in the market,” said Mr Woraphot.

“Listening is just as important as speaking; we need to empathise and put ourselves in others’ shoes. This requires flexibility and resilience to adapt to change. At Lenovo, we think globally but act locally, empowering our teams with diverse skills,” he said.

“Understanding timing and behavioural differences of different markets is crucial. We also need to empower our people and foster teamwork based on trust. When we delegate responsibilities, we do so collectively, supporting each other through challenges and celebrating successes together,” said Mr Woraphot.

This approach has led to high employee satisfaction in Thailand, resulting in the company’s recent recognition as a “Great Place to Work in 2024”, he said.

“Ultimately, our success stems from winning in the market, serving our customers and partners, and valuing our employees. At Lenovo, we believe that teamwork is essential, and we are prepared to win together,” said Mr Woraphot.

Woraphot ThavornwanGeneral Manager of Lenovo Thailandand Rest of Indochina

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Mekong hydropower projects worry NHRC

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In: South-East Asia

PUBLISHED : 27 Oct 2024 at 06:12

A villager rides a boat to the site where the proposed Ban Koum dam will be built, in Khong Chiam district of Ubon Ratchathani in 2008. (File photo)
A villager rides a boat to the site where the proposed Ban Koum dam will be built, in Khong Chiam district of Ubon Ratchathani in 2008. (File photo)

The National Human Rights Commission (NHRC) says transboundary hydropower dam projects along the Mekong River pose a risk to Thailand’s environment, economy and community safety.

In a letter submitted to Prime Minister Paetongtarn Shinawatra on Oct 3, the NHRC said it had outlined its concerns regarding four hydropower dam projects: the Ban Koum Dam, the Sanakham Dam, the Phou Ngoy Dam and the Pak Chom Dam, all on the Lower Mekong along the Thai-Lao border. The developers are registered Thai companies.

The NHRC’s move followed complaints by locals over the potential impact on the environment and living conditions and the possible violation of human rights the dam projects would cause.

Examining the proposals, the NHRC found that, although these dams would be built on the Lao side of the Mekong River, they’re located close to Thailand, so the risk of cross-border impacts is high, especially in Loei and Ubon Ratchathani provinces.

An NHRC report said the projects would harm the environment, hydrology and fisheries, economy and society, and border security and territorial integrity.

The dams would change the natural water flow, leading to riverbank erosion, aquatic animal migration, and a collapse of the freshwater ecological system.

A large volume of water discharged by the dams during the rainy season would cause severe major flooding in surrounding areas.

Work on the dam may cause changes in the deep water channel, which would affect the Thai-Lao boundary line demarcation process underway by the Joint Boundary Commission (JBC).

The NHRC urged the Office of the National Water Resources (ONWR) to consider the impacts the hydropower dam projects may cause.

It also suggested the Energy Ministry review its electricity purchasing plan and consider alternative energy sources that do not have such drastic impacts.

The NHRC said that the government, investors, and developers are responsible for respecting human rights based on the constitution and the United Nations Guiding Principles (UNGP) on Business and Human Rights.

The Ministry of Justice should ensure the operations of all four projects are consistent with UNGP principles and have measures to mitigate impacts and prevent risks consistent with human rights principles.

Pianporn Deetes, a campaign director with the Southeast Asia Program at International Rivers, a non-profit organisation protecting river-dependent and dam-affected communities, said the NHRC letter was a welcome development.

She said the Mekong mainstream dams have devastating impacts on riverside communities and are useless for Thailand’s energy needs. The government should cancel plans to buy electricity from more mainstream dams.

Montree Chantawong, a coordinator with the Mekong Butterfly, a group that works on protecting the Mekong Basin’s natural resources, said the government should consider the NHRC’s suggestions.

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Karthik Shenoy joins Bank of Singapore in transformation push | FinanceAsia

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In: Asia, Finance, South-East Asia

Karthik Shenoy joined Bank of Singapore as head of platforms and transformation, chief operating office, last month.

Shenoy (pictured) reports to Bank of Singapore’s global chief operating officer Jacky Ang, and has been tasked with driving the implementation of the bank’s three year strategic plan to enhance its internal infrastructure and platforms.

Shenoy has over two decades of experience in the financial services industry, and has held senior positions in both business and technology domains. Prior to joining Bank of Singapore, Shenoy worked at Credit Suisse (now part of UBS) where he was most recently its global head of financing technology and head of Asia Pacific (Apac) wealth technology. Before that, he was head of Apac banking & lending platform and head of Apac markets platform.

He has experience across markets including Singapore, Tokyo, and Hong Kong, and has been involved in conceptualising, designing and delivering complex applications and platforms involving pricing, trade lifecycle, risk, and portfolio management domains, according to a media release.  

Ang commented: “Karthik’s exceptional combination of business acumen and technology expertise positions him well to drive the implementation of our three-year strategic plan in enhancing our infrastructure and platforms. His ability to collaborate well will also be instrumental in developing intricate client and front-office applications, which are critical deliverables of our three-year strategic plan.”

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