Friday, November 8, 2013

THAILAND COUNTRY REPORT

SPECIAL REPORT
INSIDE: 11-PAGE SPONSORED SECTION IN CO-OPERATION WITH DISCOVERY REPORTS
T
hailandandHong
Kongs trade and
commerce relationship
goes backcenturies,
andtrade betweenthe
twois evolving, accordingtoa
Thai consulate spokesman.
Givenits small domestic
market, Thailandis dependent
onexports, whichmake up
about two-thirds of its gross
domestic product.
It is the second-largest
economy inSoutheast Asia, after
Indonesia, andmembershipin
international andregional
bodies, suchas the WorldTrade
OrganisationandAsia-Pacific
Economic Co-operationforum,
has improvedits standingand
trade relationships.
In2010, Thailandwas Hong
Kongs ninthlargest trading
partner; 11thlargest market for
domestic exports and13th
largest market for re-exports. On
the other side of the coin, it was
the countrys eighthlargest
source of imports.
Support for bilateral trade is
strong, andits importance is
underlinedby the attentionof
the twogovernments almost a
decade agothey signedthe
Investment Promotionand
ProtectionAgreement (IPPA),
strengtheningthe already
healthy trade andeconomic
relations.
Earlier this year, this
commitment was renewed
whenGregory SoKam-leung,
Secretary for Commerce and
Economic Development, and
Thai Minister of Commerce,
BoonsongTeriyapirom, signed
the Co-operationArrangement
onStrengtheningTrade and
Economic Relations. The
agreement covers everything
fromtrade ingoods andservices,
toinvestment andtourism.
SoreiteratedThailands
importance as atrading
partner toHongKong, andthe
signingof the co-operation
arrangement enhances trade
andeconomic ties.
As the next step, we look
forwardtofurther enhancing
economic ties betweenHong
KongandThailandthrough
HongKongs eventual accession
tothe China-AseanFree Trade
Area(CAFTA), Sosaid
inFebruary.
We are delightedand
encouragedtoreceive
Thailands support for our
request for accessiontoCAFTA.
There is alsoastronglobby,
incorporatingthe influence
of trade associations and
other non-governmental
organisations.
The Thai-HongKongTrade
Association(THTA), established
in1996topromote the
development of trade and
investment betweenThailand
andHongKong, aims to
provide apoint of exchange
andco-ordinate efforts to
improve business and
opportunity amongthose
engagedintrade, industry,
investment, andfinance.
It is anactive arbiter of trade
relations betweenthe twoplaces
andhelps withThai business
development inHongKong.
Its missionis tofoster
effective business andsocial
relations betweenthe two
nations, tooffer essential
business services, provide
relevant local expertise and
advice, andtoliaise withthe
Thai government toensure
smoothworkingrelationships
withThai andHongKong
companies.
Accordingtothe Thailand
Boardof Investment, 211project
investment applications from
HongKongwere receivedfrom
2008tothe first quarter of
this year.
The sectors involvedrange
fromelectronics arounda
quarter of applications to
agricultural products
andtextiles.
Accordingtothe Thai
consulate, the total trade
balance betweenHongKong
andThailandincreased4.6
per cent fromJanuary until
September 2013.
HongKongplays apart in
helpingThai trade withChina.
The Asianeconomic
powerhouse is nowThailands
second-largest tradingpartner,
andbilateral trade has increased
22.3per cent year-on-year,
reachingUS$64.74billionin2011
andis expectedtotopUS$100
billionby 2015.
Givenits infrastructure, open
business culture andcontinuing
visarestrictions toThai business
travellers onthe mainland,
HongKongremains akey figure
inthis burgeoningrelationship.
Thailandregards Hong
Kongas agateway toChina, the
consulate spokesmansays.
Inthe first three quarters of
2013, the consulate says, the
re-export value of Thai products
viaHongKongtoChinareached
US$3.9billion.
Alongside electronics and
computer components, Hong
Kongs port sawThai goods,
suchas telecommunications
equipment, vegetables and
fruits, plastic items, leather and
other rawmaterials, come
through, destinedeventually for
the mainland.
We see goodopportunities
ingoods andservices, mutual
capital flows andtalent
exchange arisingfromthe
growingtrade ties between
the twocountries, said
VacharaPhanchet, chairman
emeritus of Pacific Basin
Economic Council inThailand,
earlier this year.
More investment inreal
estates, shoppingcentres and
[the] growthof Chinese tourists
inThailandare alsoenvisaged
togrowinimportance inthe
Thai economy.
Cargo ships in Bangkok load containers with a range of telecommunications equipment, vegetables and fruits, plastic items and other raw materials destined for the mainland via Hong Kong. Photo: Reuters
Centuries-old trade and
commerce ties bolster the
Thai-Hong Kong relationship.
Reports by Euan McKirdy
Renewed
commitment
There are likely only a scant few
Hongkongers who, office-
boundona rainy afternoon,
have not daydreamedtheir way
tothe bustle of Bangkok, the
culturally richnorthor the
idyllic palm-fringedbeaches
that frame the Landof Smiles.
As Thailands greatest source
of foreignexchange revenue,
the importance of tourismin
the country has not diminished.
It has long beena tourist hot
spot, developing inthe
early1970s, as shoestring
backpackers first discoveredits
charm, thenevolving intothe
multimillion-dollar industry
that it is today.
Inthe last couple of years,
visitors fromaroundAsia
including Hong Kong andthe
mainland, whichnowsends
more visitors eachyear to
Thailandthanany other nation
have beguntoovertake
Europeans.
Inaddition, the country has
become the No1destinationfor
travellers fromHong Kong.
The increasedinflux of Asian
tourists has beena boonfor the
Thai tourist industry, with
growthanddiversificationin
the luxury property sector
primarily resorts, hotels and
villas developing tosuit this
newclientele.
Hong Kongs proximity to
this tropical paradise has
resultedincountless visitors
arriving fromthe city at
Thailands various airports.
Savvy Hongkongers, however,
are looking for more thanjust a
weekendat the beach.
The advent of low-cost air
carriers plying the route
betweenHong Kong and
Bangkok, along with
ever-easier online booking
procedures, has ledtoa spike in
the number of Hong Kong
visitors, andinexpensive
domestic flights have further
openedupthe country for those
ontime constraints.
While many wouldsee
staying out of hospital during
their vacationas a sensible goal,
healthtourismis booming, and
Thailands stature as one of the
worlds leading medical travel
andwellness destinations is
well-established.
Alongside the mainland,
Hong Kong is responsible
for many of the medical
tourismbookings ranging
fromhealthchecks tocosmetic
work andessential surgical
procedures that take place
inestablishments suchas
Bangkoks Bumrungrad
International Hospital.
The majority of
Hongkongers will opt for
procedures suchas anti-ageing
treatments, where the prices
andservice are muchmore
competitive, says Mark
Hughes, marketing director of
Premier HealthServices, a
Hong Kong-basedmedical
tourist agency. Frequent
scandals withHong Kong firms
have erodedthe trust ina
beauty industry that tries to
offer medical treatment
[and] we deal witha top-rate
clinic inBangkok that is half the
price of a comparable Hong
Kong supplier.
Bangkok Nursing Hospital
nowhas a wardjust for Chinese
patients, andour partner,
Dermaster, is investing in
Chinese translators, as are the
big hospitals.
In-vitrofertilisationis alsoa
popular service inThailand,
according toHughes, as it is
possible for couples tochoose
the gender of their baby an
optionthat does not exist in
Hong Kong.
Evenmore tourists travel to
undergoplastic surgery, which,
while lagging behindSouth
Korea interms of quality, is still
a less-expensive optionthan
Hong Kong.
Meanwhile, Thailands
upscale spa resorts are
benefitting fromtravellers
looking toget pampered. The
increasedemergence of yoga
retreats anddetox holidays is in
part basedonincreasedinterest
frommarkets suchas Hong
Kong, where harriedworkers
look totheir vacationtime as a
chance tocleanse andrecharge
the body andsoul.
Another soul-cleansing
exercise that is gaining
popularity inThailandfollows
the globally growing trendof
volun-tourism short- or
long-termvolunteer postings in
a country which, especially for
younger travellers, offers a
chance toexperience the
nations culture ina very
different andmore realistic
light, andalsoensures that
tourist baht andtime are
well-spent.
Fromplacements inrural
schools andorphanages to
volunteering at anelephant
camp, there are numerous
programmes that allowvisitors
toprovide assistance tothe
people of Thailand.
While visions of a colddrink
inhandona hot beachor a
stroll throughthe lively markets
of Bangkok still holda place in
the minds of scores of
Hongkongers, it is anever-
widening selectionof activities
that is making Thailandthe
premier choice for the citys
holiday-seekers.
Bumrungrad International Hospital in Bangkok handles a range of services for Thailands booming medical tourismindustry.
From surgery to service, theres something for every tourist
Cosmetic treatments are popular with Hong Kong tourists. Photo: AFP
S2 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
Sponsored section in co-operation with Discovery Reports
thelast pieceof freehold land
availableinthis area, Khongkwan
says.
Thecompanys projects
showcaseworld-class designs, such
as those by HBDesign founder
Hans Brouwer, who has worked on
anumber of Raimon Land residential
projects. These include The Heights
in Phuket, aninspired contemporary
expressiondesigned to complement
thesites natural environment, and
TheRiver inBangkok, which is the
tallest residential structure in the
capital. Another development in
Bangkok, 185 Rajadamri, will be a
residential tower with generously
proportioned, luxurious contemporary
condominiums, duplexes and
penthouses. Elsewhere in Pattaya,
Brouwers design works on
Northpoint aimto raise the bar in
grade-Abeachfront living.
RaimonLand has smaller assets
rangingfromamall to retail space
andanofficebuilding, although its
corestrengthlies in high-end
condominiumprojects in prime
locations that provide buyers the
exclusivity of freehold titled property.
It will continueto focus on and
broadenits core expertise.
Thecompany has a portfolio of
fivecontinuingprojects, one of which
is TheRiver, anaward-winning luxury
condominiumproject situated along
the scenic Chao Phraya River.
Another award winner is
185 Rajadamri, a luxury freehold
condominiumthat provides
spectacular views of both the Royal
Bangkok Sports Club and Lumpini
Park a luxury no other condominium
with a freehold title deed has.
Raimon Lands latest project in
Bangkok is The Lofts Ekkamai along
the Sukhumvit main road. It features
loft architecture with ceilings up to
5.9 metres high and spectacular city
views. It is located at the heart of the
Ekkamai-Thonglor neighbourhood,
which is deemed to be Bangkoks
version of Hong Kongs entertainment
and dining district Lan Kwai Fong.
Launched this year, the
contemporary-designed
condominiumis already more than
50 per cent sold.
Two of Raimon Lands other
ongoing projects Zire Wongamat
and Unixx South Pattaya are
situated in Pattaya, about 130km
southeast of Bangkok. Pattaya is a
particularly big drawto Bangkok
locals, expatriates and 5 million
annual visitors, thanks to the citys
attractive beach resort lifestyle.
The company intends to maintain
the rapid pace of growth that it has
set, as demonstrated by its
completion of eight properties in a
period of six years. Exploring viable
markets outside of Thailand, it is also
actively conducting studies and
research on various subsectors of the
property industry.
Raimon Land is proactive in
identifying newopportunities and
negotiating land acquisitions for
future developments, Johnson Tan
says. The company will continue to
raise the bar in design standards and
construction quality for high-end
condominiums, and seek niche
retail and hospitality projects in
Bangkok and resort locations
throughout Thailand.
Raimon Lands luxury
properties raise bar
in design and quality
B
angkoks structural
marvels haveincreased
not only innumber, but
alsointhequality of
designandconstruction.
WithThailands GDPontrack togrow
as muchas 5 per cent this year,
industry experts are
optimisticthat the
property and
real estate
markets,
particularly
thehigh-endsegment, will alsoseea
steady climb.
Behindthetransformationof the
citys skylineare thecountrys equally
spirited builders anddevelopers led
by independent luxury residential
property developer Raimon Land,
whichfocuses on primecity and
resort locations.
RaimonLands edgeis inits
mindset, says CEOJohnsonTan.
Insteadof competingonprices or
payment terms, we position ourselves
as thedeveloper of choicefor those
whorecognisevalue. Luxury is
loosely defined, but wethink of it as
spacenot all money canbuy. As
youmay seefrom185 Rajadamri, it
is not oftenthat youget twogreen
lungs, or parks, onafreeholdpiece
of landinBangkok.
Its commitment tohigh quality
andinternational standards of
luxury livinghas earned
theStock Exchangeof
Thailand-listedcompany
a globally diversified
clientele, almost half of
whomcomefrom60
countries. RaimonLand
anticipates asteady
influx of foreign
buyers, andwill
continuously increase
its exposureinthe
flourishing Chinese,
Japaneseandnorth
Asian markets.
Oneof its
newest clients,
Dr Khongkwan
Fujitniran, testifies to
RaimonLands regard
for customer
satisfaction. I always
focus onlocation
and I lovethe street
andtheviews frommy
condo. The185 Rajadamri
project has alsobeenbuilt on
With parent SiamCommercial
Bank (SCB), SCBSecurities
(SCBS) has unlocked vast
potential in the Thai capital market
by making equities trading
convenient and accessible
through digital channels. The firm
has doubled its trading volume
fromonline transactions of high-
net-worth individuals and
institutional investors in this years
first half alone. The astounding
market response signals the
growing appetite for equities,
which SCBSpromptly serviced
through a regional trading platform
launched in July and will be
enhanced by a global trading
platformestimated to go live later
this year.
Thai investors are starting to
look at opportunities elsewhere,
says Thongmakut Thongyai, CEO
of SCBS. We are ready to capture
this shift.
The trading platforms give Thai
investors wide access to major
financial markets in the United
States, Europe and Asia. A
dedicated international securities
department oversees offshore
trading and is primed for Aseans
upcoming regional integration,
which holds promise for inbound
Myanmar investments and other
emerging markets in the Mekong
region.
Nurturing market growth
through innovation is a hallmark of
SCB, one of the strongest and
most trusted brands in Thailand
with the most extensive reach
nationwide. Backed by this
formidable network, SCBShas
emerged as the broker of choice
especially with SCBmanaging
Thailands biggest deals such as
CPAlls takeover of SiamMakro
and Nok Airs initial public offering
earlier this year.
The groups integrated network
infrastructure ensures efficient
execution of trades, which many
SCBSforeign institutional clients
rely on for local business.
Renowned for top-quality research
and market analysis, SCBSalso
helps investors enhance yields
through derivative warrants and
access to private funds for small
and mid-cap stocks with strong
fundamentals.
Innovation is the key
competitive advantage as we
move forward, Thongmakut says.
SCBSis committed to further
expand the capital market in
Thailand and Asean through
advanced technologies and
partnerships that would deepen
research capabilities in emerging
markets.
SCBS unlocks Thai
wealth to global
capital market
Thongmakut Thongyai, CEO
While continuing to build up its
portfolio of fixed-income funds,
Thailands SCBAsset Management
(SCBAM) has ventured into offering
equity and foreign investment funds.
Over the past two years, we
have been promoting foreign
investments and telling our investors
not only to diversify their assets into
equity investment, but also to look
outside Thailand, says Jotika
Savanananda, president of
SCBAM. Investors should diversify
their investments more. Otherwise,
they cannot beat inflation and
their wealth could dwindle in the
long run.
With strong support fromits
parent, SiamCommercial Bank
(SCB), one of Thailands top three
largest banks in terms of asset size,
SCBAMhas successfully launched
various investment products,
including global equity funds, global
bond funds and emerging market
funds. Having a full range of
products on its shelf, SCBAMclients
can benefit fromportfolio
diversification through long-term
strategic asset allocation.
The firmis slated to add target
date retirement funds and
infrastructure funds to its multi-
asset class investment portfolio by
the end of this year. The former is a
series of ready-mixed asset
allocation funds that will help
investors achieve their retirement
goals. The latter will allowinvestors
to own parts of a professionally
managed portfolio of infrastructure
assets, while enjoying10 years of
tax-free dividends. This could be a
good choice for asset allocation
in a diversified portfolio.
SCBAMhas been
training its wealth
managers to guide
clients in their
investments in a
professional manner.
The firmalso holds
outreach programmes
and produces webcasts
to reach out to potential
investors. Education is
the key to convince our
clients to diversify their
portfolio and to invest
more in equity funds,
Jotika says.
With its
strong
commitment to
performance
and client
services, the
firmhas earned
numerous
awards,
including
Best Asset
Management
Company frombusiness publication
The Asset (Hong Kong) for two
consecutive years and Trusted
Brands Gold Award from
Readers Digest for four
consecutive years.
SCB Asset Management
promotes diversied
investments in its portfolio
Jotika
Savanananda,
president
Vehicle makers are increasingly
using Thailand as a manufacturing
hub, bringing credence to the label,
Detroit of the East. Somboon
Advance Technology (SAT), a Thai
pioneer, is well-positioned to benefit
fromthe flourishing automotive
industry, which is backed by a rising
middle class and the governments
car buyer programme that offers
tax rebates to first-time buyers.
We have more than five
decades of experience and
know-howin the vehicle industry,
says president Yongkiat Kitaphanich.
We have developed strong
fundamentals, covering quality,
cost, delivery, engineering design
and management.
Operating under the Somboon
Group, SAT began as a local
replacement equipment
manufacturer in1962. With its
home-grown technical expertise,
SAT has ventured into manufacturing
original vehicle parts for export to
foreign markets, mainly Japan,
Indonesia and Malaysia.
SAT produces 30 per cent to
40 per cent of Thailands vehicle
supplies such as coil springs,
disc brakes and drumbrakes. It
dominates domestic production of
axle shafts by 80 per cent. Through
automotive firms that use Thailand
as a one-tonne pickup truck
production base, SAT exports
its products to137 countries.
SATs commitment to quality
is evident in its cost-efficient and
environment-friendly engineering
production. Its management
systems ensure high performance
and timely delivery of its products
to the global market.
Mitsubishi, Isuzu, Toyota,
Nissan, ATT, Kubota, Ford and
General Motors are among the
companies that SAT serves with
its customer-compliant designs
developed in its research centres
located in Thailand. Customers
are confident with our products
as they underwent meticulous
testing, Yongkiat says.
Apart fromits research and
development initiatives, SAT will
open a learning academy for the
in-house training of employees,
which is a key strategy for the
company to advance internationally.
We aimto not only sustain our
growth, but to diversify into new
products and services, Yongkiat
says. SAT is open to new
businesses with potential partners
and investors fromaround the globe.
SAT speeds up growth
through vehicle parts
exports, partnerships
We aim to not
only sustain our
growth, but to
diversify into new
products and
services
Yongkiat Kitaphanich
President
Raimon Land is
proactive in
identifying new
opportunities and
negotiating land
acquisitions for
future
developments
JohnsonTan
CEO
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reports by Mia Daughenbaugh
and Christina Liedke
Johnson Tan, CEO
Friday, November 8, 2013 S3
SPECIAL REPORT: THAILAND COUNTRY REPORT
Sponsored section in co-operation with Discovery Reports
G
lobal in scope yet replete
with local knowledge,
United Overseas Bank
(Thai) possesses the best
qualities of the
international and domestic banking
worlds. Asubsidiary of United
Overseas Bank (UOB), UOB(Thai) has
leveraged its parents pan-regional
network and strong foothold in
Southeast Asia to operate as a fully
fledged local bank with offshore
banking services. This hybrid quality
sets UOB(Thai) apart fromother
institutions in the country.
We have a regional presence,
especially through our Southeast Asia
network, that is unrivalled by any
other bank, says Peter Foo, UOB
(Thai) president and CEO. We are
also very deeply rooted in Thailand,
with a good understanding of local
knowledge and culture.
As an integrated part of UOBs
business and a key component to the
groups regional strategy, UOB(Thai)
has taken a prudent and sustainable
approach to building its business,
understanding that first-hand
experience with local market
dynamics is essential to success over
the long term.
That philosophy is a key
differentiator when it comes to
managing its business through each
market cycle. Everything that we do
here is to ensure that our customers
can be supported through the ups and
downs of market cycles, Foo says.
Our integrated and wholly owned
Southeast Asian network is
unparalleled and difficult to replicate,
but at the same time it was born hand
in hand with our customers regional
expansion plans.
While size sets offshore and
domestic banks apart, the two also
differ in the kind of clientele and
specific services they offer. However,
hybrid banks cater to all types of
clientele and offer a range of services
common to local and offshore banks.
Corporate customers with cross-
border needs have traditionally relied
on banks such as UOBfor their
regional business expansion. Locally
owned and operated, with employees
fromwithin the towns they serve,
domestic banks are immersed in the
community and have a better grasp of
local needs. The combination of these
qualities defines the versatility of
hybrid banking as exemplified by
UOB(Thai).
The building blocks of most
banks are the same, Foo says.
Banking is about people and
relationships, and howit all comes
together in providing services that
meet our customers needs.
Regional bank
with local insights
Strategically positioned in the midst of
Thailands developing banking
industry, UOB(Thai) aims to leverage
its regional expertise to serve Thai
companies in spreading their wings
in the region or growing their
businesses at home, and foreign
clients who seek investment
opportunities in the Thai market.
Nationwide, it has a network of 156
branches, 358 automated teller
machines and 24 foreign-exchange
kiosks.
Its steady and stable business
approach has also been recognised
by ratings agencies. UOB(Thai)
has been rated AAA(tha) for National
Long-Termby Fitch, Baa1for
Long-Termby Moodys and BBB+ for
International Long-Termby Standard
&Poors. The bank creates
shareholder value by adopting
a cost-effective capital structure and
optimising the use of capital.
Thailand embraces external
influences openly and is forever
growing, Foo says. My aspiration is
to deepen our roots in Thailand and
growwith our customers.
UOBs award-winning corporate
social responsibility (CSR) programme
focuses on the areas of arts, children
and education. Its flagship Painting of
the Year programme is the longest-
running art competition in Singapore.
UOBs CSRprogramme also
includes the volunteerismof staff
at local charities. Its annual
UOBHeartbeat Run/Walk project,
meanwhile, has raised more than
HK$18 million for beneficiaries in
China, Indonesia, Malaysia, Singapore
and Thailand.
UOBhas been awarded
Singapores Community Chest Special
Events PlatinumAward and the
Singapore National Arts Councils
Distinguished Patron of the Arts
Award for its CSRprogramme.
Total banking solutions
Specialising in personal financial
services, treasury services,
commercial and corporate
banking, UOB(Thai) provides an
expansive array of products. It has a
range of deposit accounts, credit and
debit cards, personal and home loans,
insurance services and investment
services such as financial planning,
unit trusts, structured deposits,
treasury instruments, securities,
market strategies and electronic
banking.
We make sure that we meet the
customers increasing needs and
demands in Asias fast-changing
economy, Foo says. Responding to
these unfolding trends, we have put
together a promise of services that
calls for a certain sense of
commitment.
Businesses can take advantage of
the banks receivables cash
management service, which allows
clients to make use of the UOB(Thai)
network to simplify cheque, cash or
electronic funds transfer collection.
The banks payables management
service also simplifies payments and
associated documents, including
withholding tax certificate issuance,
through the use of domestic
payment solutions.
UOBs Zero Balance
Concentration Account cash
management systemimproves a
companys overall yield and
eliminates the need to manage
accounts individually. This solution
helps improve liquidity by enabling
the accounting department of
companies to link operating
accounts with a central account
held with UOB.
The bank also has a package of
treasury services that covers
currency exchanges, interest rate
swaps and other foreign exchange
and interest rate products. UOB(Thai)
also offers structured products and
fixed-income products such as debt
securities.
UOB(Thai) has product expertise
to offer financial advice on leasing
and equipment financing. These
solutions support business expansion
that requires acquisition of
manufacturing equipment,
commercial vehicles and other
assets.
UOB(Thai) has maximised the
internet for a variety of online
solutions. Through its Business
Internet Banking service, users can
make common transactions on their
own online, such as accessing
account information, making enquiries
on cheque status, funds transfer and
others. Through the service, users can
initiate payroll, bulk payment and
collection, and make single payment
transactions online. The service even
offers online trade finance services,
which cover trading needs,
remittances and bank guarantees.
We have used technology to help
us provide better services, Foo says.
We are constantly innovating and
improving our processes and training
our people to achieve a higher
standard of service delivery.
Partnerships and
local expertise
Dubbed as one of the safest banks in
the world with a credit rating of AAby
international rating agencies, UOB
provides an integrated platformfor
clients through its one-bank model.
The platformallows the bank to price
products and offer services more
definitively to customers throughout
the region. Supported by its innovative
treasury and investment banking
products based on customer needs,
UOBhas the capability to provide end-
to-end regional banking solutions to
customers.
UOBhas grown with our
customers, Foo says. These
banking relationships have stood the
test of time to become partnerships of
value and trust.
Over time, UOBhas improved its
ability to offer comprehensive
solutions to serve its growing
customer base. The bank has done
this through matching the right
products and solutions to the
customers circumstances.
For retail customers, UOB
continues to offer suitable products
to help clients manage their wealth
at a pace with which they are
comfortable. For some customers, this
means working with themto help
preserve their wealth; for others, it is
to help themaccumulate more. Many
customers choose both options as
they seek ways to protect and grow
their wealth.
The bank presents opportunities
for client-partners to diversify their
portfolios across a wider spectrumof
investments. For the wealthier set,
UOB(Thai) provides customised
products and wealth advisory.
Sterling performance
Thailand marked last year with
reconstruction programmes that
helped the economy substantially
recover fromthe effects of the floods
in the previous year. Despite a decline
in the countrys net exports due to
diminished global demand, Thailands
gross domestic product improved at
6.4 per cent from0.1per cent in 2011.
The governments stimulus
programme generated domestic
consumption, while a stable political
atmosphere restored investor
confidence.
Amid the countrys recovery last
year, at the end of June this year,
UOB(Thai) enjoyed higher loan
demands that grewby15 per cent to
224 billion baht (HK$55.7 billion). Total
deposits base increased by
32 per cent to 220 billion baht fromthe
same period last year. The banks
half-year net profit before tax grew
38 per cent to1.7 billion baht
compared to1.3 billion baht on
June 30 last year. It also handled non-
performing loans through effective
strategies in sales collection and debt
restructuring, with the achievement of
a ratio that is lower-than-industry
average as of June this year.
UOB(Thai) has reconfigured its
services and distribution structure,
resulting in significant growth in
bancassurance and mutual funds last
year. Spurred by growth that is based
on prudence, stability and long-term
commitment to customers, UOB(Thai)
has maintained a steadfast approach
in developing a business that taps into
its global strengths and domestic
appeal.
Our mission is to make sure that
we prevail and are accepted as an
international bank and domestic
lender, and excel at both, Foo says.
We are leveraging our uniqueness to
assure our success.
Asian foothold and local expertise
give UOB (Thai) a regional edge
Peter Foo, president and CEO
Everything that we do here is to ensure that our customers
can be supported through the ups and downs of market
cycles. Our integrated and wholly owned Southeast Asian
network is unparalleled and difficult to replicate, but at the
same time it was born hand in hand with our customers
regional expansion plans
Peter Foo
President andCEO
Asias economic transformation has
ushered in an unprecedented surge
in cross-border trade in the region.
The latest figures showthat Asia has
overtaken Europe and North
America as the largest destination
for foreign direct investment (FDI).
Asia is playing an increasingly
important role in the global FDI
market. Asian FDI inflows nowmake
up 8.2 per cent of the global FDI,
representing a significant jump from
2 per cent after the financial crisis in
1997. From2009 to last year, FDI
inflows into Southeast Asia grewby
227 per cent to US$107 billion, of
which an estimated US$8 billion
flowed into Thailand.
Thailand is a preferred FDI
destination because of its favourable
business climate, rapidly developing
infrastructure and stable
government. These factors have
contributed to the country being
consistently ranked as Southeast
Asias second-biggest FDI location.
Anticipating the continued rise of
inbound and outbound FDI in
Thailand, United Overseas Bank
(Thai) set up a dedicated FDI
Advisory Unit to help Thai
companies expand their business in
the region and foreign companies
looking for investment opportunities
in Thailand.
The unit gives customers access
to United Overseas Banks (UOB) full
suite of corporate and personal
banking products, and allows them
to tap into the banks extensive
international banking network. While
keeping a single point of contact,
customers can also leverage UOBs
international relationships with key
government agencies and strategic
partners in the legal, audit and
consultancy fields. Customers also
have the valuable insight of
experienced bankers with in-depth
knowledge of key industries such as
manufacturing, commodities, oil and
gas, electronics and technology.
UOBis ahead of the curve in
that sphere and is well-positioned to
support companies in their business
development outside of home
countries, says Peter Foo, UOB
(Thai) president and CEO. UOBhad
long extended its network beyond
Singapores shores well before
globalisation and regionalisation
became buzz words.
The units launch comes ahead
of the formation of the Asean
Economic Community (AEC) in 2015.
The AECis envisioned to create a
region with free movement of goods,
services, investment, skilled labour
and capital. UOB(Thai) foresees the
AECopening windows for Thai
businesses looking to spread their
wings across the region.
With the AEC, Asian countries
will see a notable increase in the
quantity and quality of investments,
outbound and inbound, in almost
every major sector of their
economies, Foo says. UOBhas
steadily grown its footprint in the
region for a good 40 years now, and
we have a multi-local banks
franchise in Southeast Asia bonded
by a common operating platformin
the region. This is most invaluable in
providing local insight, accessibility
and support for companies in their
pursuit of cross-border investment
and trading opportunities.
UOBhas also formed a strategic
alliance with the Board of
Investment of Thailand (BOI), the
countrys main investment promotion
agency, which has traditionally
focused on attracting foreign
investments to the country.
UOBwas the first bank in
Southeast Asia to sign a
memorandumof understanding with
the China Council for the Promotion
of International Trade (CCPIT). Under
the memorandum, CCPIT will provide
support to UOBs customers
expanding into China. The
assistance will be in the formof
hosting trade delegations, providing
business referrals and invitations to
trade events. CCPIT will also assist
UOBcustomers seeking to expand
beyond Shanghai and Beijing and
into cities such as Tianjin, Jiangsu
and Jinan.
With these partnerships in place,
UOBhas aided hundreds of
companies in their successful cross-
border investments. One of themis
Lianfeng International, a steel
company operating in China that
chose UOBto assist in the formation
of its international headquarters in
Singapore. UOBwas chosen
because of its strong network in
Southeast Asia and capabilities to
support the companys operations
and expansion plans.
Going forward, UOBs FDI
Advisory Unit will be prioritising the
increasing number of Thai
companies planning to expand their
businesses abroad. The bank
expects Thai manufacturers to bring
forward their overseas expansion
plans to lower production costs and
patch up labour shortages at home.
UOBhas the largest Southeast
Asian banking network, Foo says.
We are in a unique position to
advise companies seeking new
opportunities. Our history and
heritage in this region have delivered
long-termsustainable growth as we
expanded in the region.
One-stop advisory unit to unlock Asias potential
Guided by the principle that a bank
should be a custodian business
imbued with social responsibility,
Peter Foo, the president and CEOof
United Overseas Bank (Thai), has
set himself apart as a banker. With a
constant drive to do the right things
in the right way, Foo believes that all
aspects of banking, including
ingenuity and innovation in finance,
should be governed by the highest
standards of business practice.
Foo, who joined United Overseas
Bank (UOB) more than two years
ago in its Global Markets and
Investment Management unit, was
appointed to lead UOB(Thai) in
October last year. Drawing from
more than 25 years of experience in
Asias banking industry, Foo brings
to the helman approach that is
personal, caring and distinctive.
We have to meet the highest
standards in all aspects of our
business, be it customer service,
loan financing, markets advisory and
execution, regulatory compliance or
meeting standards in each market,
he says. The former CEOof a
European bank in Singapore, Foo
has made it his goal to run the
business in a prudent yet impactful
manner.
Schooled in a largely Anglo-
Saxon banking environment in all my
previous careers, what particularly
strikes me about UOBis its near
obsession with being ethical and
sustainable in the long termin its
pursuit of commercial success, he
says. It is not just the pursuit of
profit per se that is important. For a
bank like us, business must be
profitable, but more critically, it has
to be done right. This underpins our
whole business culture.
For Foo, UOB(Thai) should not
lose sight of its distinct character as
a hybrid bank with an aspiration for
the highest standards for all its
stakeholders. Being a Singapore-
owned but locally incorporated
bank, UOB(Thai) personifies duality.
Foo celebrates this variety in the
banks personality. The cultural
diversity makes us better, he says.
It makes us more culturally aware
and sensitive, which is essential if
we are running a regional bank.
President drives bank to
meet highest standards
of business practice
The iconic Robot Building
houses United Overseas
Banks Bangkok headquarters
S4 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
T
hai investors aiming to diversify abroad and
foreign financial institutions looking to the Thai
market find a bridge in Krung Thai Asset
Management (KTAM). Managing US$15.5 billion
in assets, KTAMis the countrys third-largest
asset management company in terms of market share
and No1when it comes to achieving relatively high
growth rates in the past fewyears.
Innovativeness makes us stand out in the industry
and the country, says KTAMCEOSomchai Boonnamsiri.
We constantly introduce newand industry-focused
products that we develop closely with our clients and
through our extensive research capability.
Licensed to manage various investment products,
frommutual funds to property, private, provident and
exchange-traded funds (ETFs), KTAMis the only asset
management firmthat holds the status of a state
enterprise. Nearly all of its shares are held by Krung Thai
Bank, Thailands largest state-owned financial institution
and the first state enterprise to list on the Stock Exchange
of Thailand.
KTAMleverages Krung Thai Banks nearly five
decades of expertise in commercial banking and more
than1,200 branches nationwide. It also optimises non-
Krung Thai Bank channels by partnering with global
industry leaders, including Citibank and Standard
Chartered Bank.
We aimto educate investors, showthema wide
array of options and enable themto take full advantage
of the innovative products on the market, Somchai says.
ETFs, for instance, may be a fairly newconcept for Thai
investors and still have a lowpenetration rate, but we
believe that they have high potential because they
combine the valuation feature of mutual funds and the
tradability feature of listed stocks.
The countrys pioneer and leader in ETFs, KTAMwas
the first firmin the industry to bring CSI 300 a
capitalisation-weighted stock market index replicating
300 stocks on the Shanghai and Shenzhen exchanges
into the Thai market. It also offers the KTAMGold ETF
Tracker, which tracks the price performance of gold
bullion through the Hong Kong-listed SPDRGold Trust,
and the KTAMHong Kong ETF Tracker, which follows the
performance of the Hang Seng Index.
The leader in the property fund space, KTAMalso
manages about US$5 billion worth of property funds and
commands 39 per cent of the market share. Its flagship
funds include Dusit Thani Hotel Fund, Tesco Lotus Retail
Growth Fund and TCCLands property funds.
We are preparing for the Asean Economic
Community integration by 2015 and will launch more
exciting products that will appeal to a broader investor
base, Somchai says.
Innovative,
pioneering funds
propel KTAMs
regional growth
Somchai Boonnamsiri, CEO
Sponsored Section in co-operation with Discovery Reports
When providing protection to the worlds
hospitals, only the highest quality will do.
Family-owned company Thai Hospital
Products (THP) is taking its complete range
of disposable protective apparel deeper into
the region, after almost 20 years of producing
face masks, surgical caps and gowns for
global markets.
THPexports 90 per cent of its products to
the United States, Europe and Japan for
customers including some of the worlds best-
known international companies. Complying
with global standards, THPs manufacturing
processes are ISO9001- and13485-certified
and pass numerous customer evaluations. The
company conducts its own quality checks at
every level of production, fromrawmaterial
sourcing to shipment.
Theres a lot of trust between us and the
customers in terms of our quality and service,
says executive vice-president Chinawat
Maturaporn. They feel more comfortable
buying fromTHP, and many of themhave been
buying fromus for more than10 years.
Alongside THPs commitment to quality is
its agility in adapting to changing market needs
such as when the company quadrupled its
production capacity for face masks in four
months during the H1N1epidemic in 2009
without compromising quality or pricing.
In its drive for constant development and
innovation, THPcollaborates closely with
clients to add special features to products.
THPs face masks, for instance, have
wraparound eye shields that are non-glare,
non-reflective and anti-fog. These features
enhance the many benefits of using disposable
protective apparel versus washable garments.
These benefits include water repellence and
superior protection for patients and doctors
against blood-related diseases.
THPis an active proponent of disposable
protective apparel in Asia, particularly as it
focuses on its domestic market and on
Southeast Asian countries such as Cambodia,
Myanmar and Laos, where most hospitals still
employ reusable linen products. The potential
is huge in the Asean market, and we can
capture more of this market with our quality,
Chinawat says.
Quality protective apparel boosts
family company worldwide
Chinawat Maturaporn, executive vice-president
domestic and international
institutional investors navigate
Thailands derivatives and equity
markets, CGSensures integrity,
transparency and fair dealings are
steadily maintained.
Thailands investment community
also seeks CGSfor its fast and stable
infrastructure technology. As one of
the countrys top internet trading
sites, CGSetrade allows clients to
monitor their stock portfolio, deposit
funds and purchase securities within
Thailand at any time. Global investors
can also access and trade stocks
from19 major exchanges worldwide
using the companys secure CGS
OASIStrading platform.
Strengthening its access to
foreign markets, CGSis developing
additional trading products and
channels while brokering investment
banking deals. Offshore firms
entering Thailands financial space
can also rely on CGSfor its extensive
market know-how.
Our core speciality is our
experience with the local Thai
capital markets, Prasit says. If
foreign companies want to penetrate
the Thai retail market, we can help
themquickly understand the
investment environment. Imall for
win-win situations.
Dr Prasit Srisuwan, CEO
and president
Trust and technology draw investors
to Country Group Securities
As Thailand prepares to boost trade
with fellowemerging markets under
the Asean Economic Community by
2015, Country Group Securities (CGS)
Thailands No 2 brokerage firm is
set to become the regions
investment gateway with its full
range of financial advisory services.
Fired up by an astounding
280 per cent growth in revenue last
year, CGSis determined to grow
business and uphold the investment
profession. Equipping clients with
financial knowledge and access to
securities for the past 35 years, the
companys success hinges on two
key assets trust and technology.
We encourage good
governance throughout the
organisation, says Dr Prasit
Srisuwan, CEOand president. And
with the right technology, we can
change and improve many things.
Embracing principled
leadership in all dealings, Prasit
works closely with his
experienced management teamto
handle the firms daily operations.
Fromproviding customised
services to more than 60,000 retail
investment accounts to helping
International upscale Swiss hotel management
company Mvenpick Hotels &Resorts welcomes hotel
owners and developers as it embarks on its most
aggressive expansion yet across Asia, especially China.
The company opened Mvenpick Hotel Enshi, its first
hotel in China, in August this year and plans to build five
more across the country within five years. Overall,
Mvenpick will put up18 hotels across Asia through
greenfield joint-venture projects. This will increase its
establishments across the region fromseven to 25 within
five years.
We are a fresh brand coming in, says Markus
Mueller, vice-president for sales and marketing for Asia.
China is a big growth opportunity and it can only work
in partnership with hotel owners and developers.
Offering potential investors support across the whole
value chain fromconceptualisation and branding to
talent recruitment and operational management,
Mvenpick lends expertise frommanaging close to
100 hotels across 24 countries in Europe, Africa, the
Middle East and Asia.
The companys strategy of growing in clusters also
offers partners economies of scale, scope and brand
awareness. We ultimately want our investors to make
money while offering a true spirit of hospitality, Mueller
says.
Combining Swiss precision with the warmth of Asian
hospitality, Mvenpick is set to serve Asia with the best
of both worlds.
The14-storey Mvenpick Hotel Enshi, for example,
gave the city its first five-star international hotel
experience. Located near where the Avatar cliff scenes
were filmed, the hotel counts easy access to natural
wonders, 240 exquisite wood-furnished guest rooms,
five restaurants and11state-of-the-art meeting rooms
among its amenities.
Mvenpick will also develop a hotel in Foshan and
Mvenpick Hotel &State Guest House Chifeng.
We are an upscale brand, but we are not about
luxury. We are more about down-to-earth, authentic
natural enjoyment, Mueller says.
Mvenpick extends upscale
hotel experience to Asia
Markus Mueller, vice-president for sales and
marketing for Asia
Friday, November 8, 2013 S5
SPECIAL REPORT: THAILAND COUNTRY REPORT
Sponsored section in co-operation with Discovery Reports
G
rowingalongsideits
customers andthenation,
Bangkok Bank has been
anintegral part of
Thailands economy for
almost 70 years. Thailands biggest
bank is increasingly makingits mark
beyondits national borders, taking
advantageof the burgeoning
opportunities offeredby accelerating
regional integration, withamajor
focus onthemainlandandHong
Kong.
Theseare excitingtimes for
Bangkok Bank andits customers,
says president Chartsiri
Sophonpanich. Asiais drivingglobal
growthandThailandis well-
positionedto benefit.
Bangkok Banks regional track
recordis strong. For example, it was
quick tospot theopportunities in
China, opening arepresentative
branchinBeijingin1986, whenthe
country was just startingtoopenup
to theoutsideworld. Its prescience
shouldnot besurprising, as it had
longbeenamongthetopbanks inthe
worldfor overseas Chinese. It
enteredHong Kongas early as1954,
whereit opened its first international
branch.
Bangkok Banks China
connections rundeepits first
customers were astuteChinese
traders, whobuilt business empires
that extended throughout Southeast
Asiaandback towards China. The
bank went with themandwithina
fewdecades, hadbuilt uponeof the
most impressive branchnetworks in
Southeast Asia, connectingwithits
branches in HongKong, Taiwanand
themainland.
Today, thebank has 25 branches
in12 economies themainland, Hong
Kong, Indonesia, Japan, Laos, the
Philippines, Malaysia, Singapore,
Taiwan, Britain, theUnitedStates
andVietnamplus arepresentative
officeinMyanmar that has beenin
placefor 18 years. Thenetwork is
augmentedby approximately 2,000
correspondent bankingrelationships
aroundtheglobe.
Suchan extensivereachprovides
thebank withamajor competitive
advantageas Thailandseems
destinedto becomeahubof the
AseanEconomicCommunity (AEC),
whichwill beformedat theendof
2015. Thanks toits highlevels of
economicgrowth, competitivelabour
forceandgreat market potential, the
country has becomeamagnet for
overseas investors, includingthose
fromChina.
Bangkok Banks longhistory and
closeconnections withChinaalso
gaveit ahead start over rivals when
Chinabegan openingupits banking
sector toforeignbanks inthe1980s.
Awholly ownedsubsidiary, Bangkok
Bank (China), was formedin2009
the first andsofar only Thai bank to
receivealocal bankinglicence.
Whileofferinga broadrangeof
financial and bankingservices, it
focuses on providingservices to
companies withbusiness interests in
Chinaand Southeast Asiaan
important and growingmarket with
stronginvestment flows inboth
directions.
Most of Thailands major
corporations arelocal enterprises
that have grownwithBangkok Bank,
andrelationships betweenthebank
andthecompanies founders often
extendthroughseveral generations.
Thesecompanies arecreatingripples
across theworldas they aggressively
expandtheir international operations.
Inthepast year alone, overseas
investment by Thai companies
exceededUS$14 billion, easily
outstrippingall other Southeast Asian
countries andcatapultingThailandto
thefourth-highest spot inAsiaafter
China, SouthKorea andIndia.
Foundedin1944, Bangkok Bank
was oneof the first companies listed
ontheStock Exchangeof Thailand
andis seenas abellwether stock for
theoverall economy. The bank has
closetoUS$80 billioninassets, a
domesticnetwork that includes more
than1,000 branches and230 business
centres, andadiversifiedloan
portfoliocomprisingcorporates, mid-
andsmall-sized businesses, retail and
international customers.
Chartsiri, whohas beenat the
helmfor 19 years, says thebanks
greatest strength is incorporate
andbusiness banking, where it is the
market leader. Wearefortunatethat
opportunities will begreatest inthese
sectors inthe foreseeablefuture.
Asidefromtheopportunities
presentedby thefast-growing
economies of Southeast Asia,
Thailand is at thestart of anew
investment cycle andthegovernment
plans toinvest aroundUS$70 billionin
infrastructureprojects over thenext
several years. Wearealsoplanning
toincreaseour retail lending
operations tobetter balanceour
business base. Wehavemorethan
17 milliondeposit account customers,
accountingfor 20 per cent of the
industrys total, and weare investing
heavily tomakebetter useof this
baseas achannel toprovidea
greater variety of products and
services, Chartsiri says.
International banks havebeen
activein Thailand for many years and
areagrowingpresence as
regulations aregradually introduced
toopenupthemarket toforeign
competition. Whilerecognisingthe
strongcompetition fromlocal and
foreign banks, Chartsiri says heis
confident that Bangkok Bank, and the
Thai bankingindustry ingeneral, is in
goodshapetorespond.
After nearly sevendecades as a
leadingbank inThailand, our nameis
naturally well-knownandour
reputationis strong. But weare
always interestedintappingintonew
opportunities andattractingnew
customers, hesays. Chartsiri recalls
howThai banks andmany of their
customers went throughadifficult
timeinthelate1990s withthe tom
yumgoong, or Asianfinancial crisis.
As aresult, however, amuchstronger
bankingindustry emerged.
Thailands regulatory framework
today is very sound, andtheres a
highdegreeof confidenceinthe
bankingsector, Chartsiri says.
Whilethe AECwill further
intensify competition, Chartsiri sees
moreopportunities thanthreats
ahead.
Internationally, westill havealot
of potential togrow. For example, as
part of theAECblueprint, certain
QualifiedAseanBanks will be
allowedtoexpandintoother
Southeast Asian countries withease,
providingthemwithakindof single
passport for regional expansion.
Bangkok Bank hopes to beone
of them.
Chartsiri says Bangkok Bank is
prepared andwell-capitalisedwitha
strongbalancesheet. Thebank has
detailed knowledgeof local markets
andconditions inThailandandacross
theregion. Wehaveasolidbasefor
further expansion, hesays.
This expansionis likely toproceed
organically, rather thanthrough
acquisition, and at a paceinkeeping
withthebanks prudent andcautious
strategicapproach.
Key strategies
Cultivatingquality relationships is
crucial tohavinglong-term
customers, Chartsiri says. Welike
toget toknowour customers and
understandtheir businesses, sowe
canidentify their futureneeds and
provideappropriateservices and
support.
Bangkok Bank abides by its
motto, puan koo kit mit koobaan,
whichmeans weaspiretobea
financial partner andtrustedfriendto
our customers.
Chartsiri says that thebanks
philosophy of emphasising the
importance of partnership has
enabled it todeveloplong-term,
trustedrelationships withcustomers
that extendover many decades.
Our international network is
clearly animportant competitive
factor for us.
Our peopleonthegroundin
thesemarkets andour specialists in
thehead officeare experiencedand
really knowtheir customers,
Chartsiri says.
We focus onmarkets whereour
customers haveseengood
opportunities and local conditions are
appropriate. That approach has
provensuccessful for us over many
years and wewill continue to
followit.
Bangkok Bank can provide
informationandadvice on trading,
settingupabusiness, taxation,
obstacles, opportunities and
challenges, andeconomic trends that
will benefit customers keen on
tradingor establishing a presence in
key markets.
HongKongis akey element in the
banks international network. The
banks twobranches located in
Central andKowloon work closely
withBangkok Bank (China) in
Shenzhen, Shanghai, Xiamen and
Beijing. Many international
customers borrowfunds for
investment andprojects across the
region, includingHong Kong, Taiwan,
Singapore and other countries in
Southeast Asia.
Chartsiri also notes howBangkok
Bank is working with many
international companies that are
showing keen interest in investing in
Thailand and the Asean region.
This includes supporting large
Chinese, American and European
companies setting up operations in
Thailand and forming co-operative
agreements with Japanese banks to
assist their customers to invest in
the region.
Nowis a good time to be doing
business in Asia and Thailand. New
opportunities are arising every day,
and Bangkok Bank aims to be there
with its customers to make the most
of them, Chartsiri says.
Bangkok Bank in
pursuit of growth and
opportunities beyond
national borders
Chartsiri Sophonpanich, president
After nearly seven
decades as a
leading bank in
Thailand, our
name is naturally
well-known and
our reputation is
strong. But we
are always
interested
in tapping into
new opportunities
and attracting
new customers
Chartsiri Sophonpanich
President
S6 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
Sponsored Section in co-operation with Discovery Reports-
T
he three-storey building at
300 Romklao Road in
Bangkok is anything but
ordinary. The headquarters
of Thailands leading design
and build company Ritta, it is the
countrys first green building certified
gold under the Leadership in Energy
and Environmental Design (LEED)
rating systemfor newconstruction.
Double glass walls allownatural air
cooling, while an automatic irrigation
systembased on soil moisture data
cuts landscape water use by half.
Designed by wholly owned
subsidiary Thai Global Energy (TGE),
the project marks Rittas success in
the green building field.
Innovation is naturally ingrained
in our corporate culture, says chief
business development officer
Bhargab Das. The company regards
innovation as a process that
enhances our entire quality
scenario.
Fromhumble beginnings in1987,
Ritta has grown to become the
leading partner of choice in the
design and construction of all
building types, fromfactories to
skyscrapers. The companys own
precast concrete and structural steel
fabricating facilities and labour force
of more than 40,000 deliver value
engineering with unmatched cost
efficiency, timeliness, safety and
quality.
Carrying the pedigree of
construction excellence that Ritta
has developed for more than 20
years, TGE has the lions share as
consultant for LEED-certified
buildings in Thailand.
TGE allowed us to expand
horizontally, Das says. We are
developing other avenues relevant to
our engineering business. TGE has
completed a10-megawatt solar
power plant and is in the process of
acquiring more than100 megawatts
in the near future. In addition,
Ritta-TGE is eyeing numerous rooftop
solar projects.
Welcoming potential partners
who offer synergy in capabilities,
Ritta and TGE are interested in taking
part in local mega-development
projects. The two companies are
also looking to expand into
neighbouring countries such as
Vietnamand Myanmar.
We have made the impossible
possible, Das says. Combining our
expertise and local presence with
potential partners global footprint
and credentials will forma potent
force in the market.
Ritta, TGE introduce fresh
green building designs
Bhargab Das, chief business development officer
TGE allowed us
to expand
horizontally. We
are developing
other avenues
relevant to our
engineering
business
BhargabDas
Chief business development officer
Highly professional company TISCO
Asset Management (TISCOASSET)
has more than 20 years of experience
in fund management. While its
competitors focus on fixed-income
products, TISCOASSET fills the
gap in client demands by specialising
in high-risk areas, penetrating
niche market segments to
differentiate itself fromother asset
management firms.
We are gap finders. We
succeed by finding the gaps and
building our marketing and
investment teams to specialise in
those areas, says president
Araya Thirakomen.
Awell-known wealth
management expert, TISCOASSET is
a part of TISCOFinancial Group. The
group includes Thailands leading
financial institutions: TISCOBank,
which is among the fewfirms that
survived the1997 Asian financial
crisis, and TISCOSecurities, which is
armed with the most relevant
industry research frompartner
institutions such as Deutsche Bank.
Through the synergy of the group,
TISCOASSET has access to
time-tested knowledge and trusted
research papers about world
economics and investment.
Committed to best managing
clients wealth, the company
exercises due diligence prior to
constructing client portfolios to
deliver the best value for money. This
process helps in cultivating
long-termrelationships with clients.
With the onset of the Asean
Economic Community (AEC),
TISCOASSET guides clients on the
best alternatives to diversify their
exposure to offshore investment,
starting frompassive and eventually
moving to active investments.
TISCOASSET offers foreign
investment products, such as the
TISCOUSReal Estate Investment
Trust Fund (reit), which enables
clients to invest in the United
States Vanguard (reit) exchange
traded fund.
Client due diligence and product
innovation are key success factors in
sustaining the business growth of
TISCOASSET. Apart fromoffering
mutual and private fund products,
TISCOASSET also specialises in the
provident fund management
business. It is among the first asset
management companies to offer
employees a choice to the provident
fund client.
We constantly equip our teamto
be more competitive. Once the AEC
takes effect in 2015, we will be ready
with a full suite of innovative
products, Araya says.
TISCOASSET opens
foreign investment
opportunities
Araya Thirakomen, president
We constantly
equip our team
to be more
competitive.
Once the AEC
takes effect in
2015, we will be
ready with a full
suite of innovative
products
Araya Thirakomen
President
One mans dreamhas kept Thailand
clean and green. Suwat Luengviriya
realised his lifelong wish for a better
world and greener environment
when he founded Better World
Green (BWG) 16 years ago. The
company introduced the
concept of
sustainable industrial waste
management in Thailand, which
earned it a gold medal fromthe
Department of Industrial Works.
Through the years, BWGhas grown
to become the countrys only
provider of integrated industrial
waste management, covering the
whole value chain from
counselling and waste analysis
to transport and disposal.
At the heart of the company
is our desire to protect the
environment, the communities
and our clients brands, says
Suwat, who is also the president
and CEOof BWG.
BWGensures the highest
standards in managing
hazardous and
non-hazardous
industrial wastewater
and solid wastes. With
its own laboratory, the
company analyses
and reduces the
toxicity of waste
products using test
procedures
accredited by the
Thai Industrial
Standards
Institute. Its
incinerator, which
is operated by
subsidiary
Akkhie Prakarn,
is the first in Asia that is equipped
with a modernised air purification
system. Fromwaste collection to
wastewater treatment, landfill or
incineration, all processes follow
ISOguidelines and those set by the
Occupational Health and Safety
Management Systems.
Through our technological
expertise and high international
standards, we are able to share with
clients our passion for the
environment and in the process,
help themstrengthen their
branding, Suwat says.
Suwat pursues his dreamfurther
as he leads Thailand into a newera
in industrial waste management. In
co-operation with Japanese waste
management group Yamazen, BWG
is pioneering waste-to-energy
projects in Thailand. BWGis
producing refuse derived fuel, which
will be used to power an electric
plant it plans to set up soon.
BWGis also strengthening its
waste logistics as it plans to cover
the integrated management of
household waste. With all trucks
equipped with a global positioning
system, the company is devising
more efficient ways of picking up
and delivering waste across the
country. BWGwill beef up its fleet to
help accommodate the estimated
household waste generated yearly
across Thailand.
We cannot make it alone,
Suwat says. We welcome
everyone, including potential
partners, to help us make our dream
of a better world a reality.
Better World Green ventures
into waste-to-energy projects
Suwat
Luengviriya,
president
and CEO
More than 30 years of engineering
experience in 84 countries enables
LVTechnology (LVT) to drive entire
national cement industries. Working
at a proficiency level reached by only
nine other companies in the world,
LVT modifies a cement plants
existing equipment to enhance
operational efficiency and maximise
production.
We have been able to get more
output fromequipment than anybody
else, says LVTs founder, Hans
Nielsen. Adaptability to client
requirements allows LVT to increase
capacity while reducing clients
energy consumption and operating
expenses.
Just by modifying equipment in
existing plants in India, LVT boosted
the capacity of the countrys cement
industry by up to 20 per cent between
2000 and 2006 at minimumcost to
clients.
Leveraging its success in India,
LVT signed an agreement with China
National Materials Group (Sinoma) in
March to assist the companys entry
into India.
LVT is likewise collaborating with
Sinoma on converting household
waste into coal powder that does not
produce waste gases. Applicable
across various industries, the coal-
powder technology will be ready for
market next year.
LVT also aims to succeed in
Myanmar through its partnership
with Max Myanmar Group. My
ambition is for Myanmar to see LVT
as the father of its cement industry,
Nielsen says. LVT is designing three
plants as Myanmars first cement
industry supplier.
LVT has already expanded its
services in countries with increasing
cement consumption in the Middle
East, Africa, Southeast Asia and
South America including Bahrain,
Brazil, Mozambique and Malaysia,
where LVT focuses on complete
cement plant design and supply
adapted to local requirements.
To fuel cement plant operations,
LVT is co-operating with researchers
at Chiang Mai University in northern
Thailand to use photosynthesis for
converting carbon dioxide into
carbohydrates further reducing
clients energy costs. We should be
one of the first to do this in all cement
plants to lower their carbon dioxide
emissions, Nielsen says.
LVT boosts cement capacity
of several countries
Hans Nielsen, founder
expand its portfolio, Diamond has
diversified into other building
products such as concrete roof tiles
and fibre cement boards. It also
provides roof stripping and
installation services under the
trademark names of Diamond Roof,
Adamas and Jearanai. Roofing
materials comprise 60 per cent of its
production, and wall materials make
up 40 per cent.
We have various categories of
roofing, wall and flooring materials.
We have everything you need to
build a house, says Satid
Sudbuntad, deputy managing
director for sales and marketing.
Diamond takes pride in being
a reliable partner, offering
high-quality products at reasonable
prices. Expanding at the rate
of one project per year,
Diamond has doubled
its production
capacity and
registered
10 to15 per cent
annual growth rates over the past
five years. Its bottomline grewby
more than HK$20 million in the last
two years. The majority of domestic
sales come fromits 6,000 agents,
with various distribution channels
including major Thai project
developers and the modern trade
such as do-it-yourself home depots.
Diamonds latest offer, autoclaved
aerated concrete (AAC), is a
lightweight concrete used in partition
walls, roof panels and lintels.
Compared to a conventional block,
AACis easier to make, more flexible
and durable, and has better thermal
and sound insulation which makes it
energy saving.
AACis a growing market, so we
have built newfactories to expand
our export capacity from10 per cent
to around15 to 20 per cent, says
chairman Prakit Pradipasen.
The company is exploring the
possibility of building additional
manufacturing facilities in the Asian
region to further increase its export
value. We are looking to forging
stronger partnerships with our local
distributors and launching a
marketing campaign that will
encourage our local niche markets,
including its project developers, to
recommend our products to their
customers, Satid says.
Aiming to be the better choice in
construction materials and services,
Diamond constantly upgrades
research and development, and
sources out rawmaterials to
optimise production cost.
We are a trusted name in
Thailand and in our growing export
markets such as Laos, Cambodia,
Myanmar, Malaysia, the Philippines
and further to China, Taiwan and
India, Prakit says.
Diamond sustains growth with
innovative building solutions
Prakit
Pradipasen,
chairman
Fromselecting rawsupplies to
creating top-calibre construction
materials, Diamond Building
Products adheres to strict quality
management every step of the way,
providing quick delivery and
excellent after-sales services for
total customer satisfaction.
Diamond has more than three
decades of expertise in producing
and distributing roofing tiles. To
Friday, November 8, 2013 S7
SPECIAL REPORT: THAILAND COUNTRY REPORT
F
ulfilling its mandate to uplift
Isan, Thailands northeastern
region and the nations
poorest, has led Khon Kaen
University (KKU) to
groundbreaking research in
agriculture, tropical diseases and
basic education all sources of
global distinction for the northeastern
regions largest university.
Approaching its 50th anniversary,
KKUis emerging as the educational
centre of the Greater Mekong
Subregion (GMS) and positioned
strongly for Aseans economic
integration.
Our motto is social devotion,
says Dr Kittichai Triratanasirichai,
president of KKU. This will continue
to drive our work as the hub of
GMS.
Khon Kaen city, host of KKUs
main campus since1964, is centrally
located in GMSand its economic
centre. Srinagarind Hospital, KKUs
main teaching hospital and the
largest in Isan, serves as a medical
hub for Laos, Cambodia and Vietnam.
As one of Thailands nine national
research universities, KKUis leading
multidisciplinary work in these GMS
countries on cholangiocarcinoma
(bile duct cancer) research and the
Southeast Asian liver fluke disease.
KKUis among the top five globally
and Asias No1in
cholangiocarcinoma research.
The universitys innovative
approach to mathematics education,
which elevated lowaptitude in Isans
primary schools to satisfactory levels
within four years, is being adopted as
a national model for basic education
in Thailand. KKUs analytic method,
which will also be replicated within
GMS, has drawn interest from
institutions in Japan and the
United States.
Home to Thailands first science
park, KKUis likewise pioneering
agriculture and food technologies. It
is developing newvarieties of
functional and organic food as
part of continuing collaborations
with industry partners such as
Thailands CP, Mitr Phol and
Betagro groups. It was KKUs
groundbreaking work that helped
transformIsans inhospitable
terrain into productive fields for crop
farming. Northeast Thailand
nowadays is a major
source of the nations
main crops such as
rice, sugar cane,
cassava and rubber.
We try to
increase the value-
add for our farmers,
Kittichai says. We
develop functional
food varieties from
healthy
components
found in
vegetables and
other produce.
With its
science park
due to host
academia-
industry
collaboration
for upcoming
private industrial
estates in Khon Kaen, KKUwill
intensify international partnerships,
particularly within Asean by 2015. To
foster such interaction across its 25
faculties, the university offers special
scholarships and exchange
programmes to top-quality
researchers, professors and
international students.
Working with us is a good
opportunity to make an impact on
real-world health issues through
multidisciplinary research,
Kittichai says.
Community driven
research brings
global distinction
to university
Dr Kittichai Triratanasirichai,
president
Mechanical construction is the
heart and soul of any plant.
Embodying this philosophy has
catapulted Sriracha Construction,
once a small home-grown
contractor, to one of Thailands
leading builders.
Give us a set of drawings, and
we can build anything, says
Boonkrua Khemapiratana,
managing director. Beyond
construction capability, Sriracha
Construction has succeeded
because we have never
compromised on safety, quality
and schedule in our 35-year
track record.
Serving heavy industries
including oil refinery, mining, power
and petrochemical plants, Sriracha
Construction specialises in steel
structure, piping, tankage fabrication
and erection, and equipment
installation. It works directly with
project owners on engineering,
procurement and construction
management (EPCM) contracts, and
large EPCcontractors earning the
trust of repeat clients such as
ExxonMobil, Bechtel, Foster
Wheeler, Chevron, Thaioil and Uhde.
Efficient operations enable us to
be 30 per cent more profitable than
other companies doing similar
projects, says Gridsada
Potisomporn, deputy managing
director. This efficiency also puts a
premiumon our services, making us
the first choice of clients who are
willing to pay extra for a top-notch,
reliable partner.
Adding to the firms growing
portfolio are overseas projects
wherein Sriracha Construction is
handpicked to lead. The company
has worked through direct invitation
in Qatar, Sudan, Singapore and
Madagascar, where it was one of
the main mechanical contractors for
SNC-Lavalins mining project.
Sriracha Construction sees
mining and oil and gas as promising
growth areas. With the discovery of
possibly the largest gas well in the
Gulf of Mexico, it is optimistic that it
will have a share of the many
potential long-termprojects at the
site. Anticipating such prospects
and a steady growth in the next
decade, it has expanded with a
fourth factory twice the size of its
three older factories combined.
After creating excitement in the
construction industry when it listed
on the Stock Exchange of Thailand
last year, Sriracha Construction is
ready to broaden its footprint. It aims
to attract large international
companies as strategic investor-
partners with whomit can bring a
slewof projects, domestically and
globally.
Closer to home, it eyes Cambodia
and Myanmar, where it is slated to
set up a regional training facility with
the Ministry of Labour. Sriracha
Construction envisions helping the
Asean region become a more
competitive resource for low-cost,
highly skilled labour for the
international mechanical
construction market.
We are excited for the future,
Boonkrua says. We target projects
that will give us the best yield for our
investors and stakeholders.
Sriracha Construction sparks
renewed vigour in mechanical eld
Boonkrua Khemapiratana, managing director
Asian countries are abuzz with preparations to meet the
2015 economic integration deadline of the Asean
Economic Community (AEC). Thailand, in particular, has
established a comprehensive platformto lay the
groundwork for regional co-operation. MFEC, one of the
largest information technology (IT) service providers in
Thailand, is among the most active players armed with a
comprehensive portfolio to capture upcoming growth
opportunities in the region.
When we started, we focused on howto create
projects to get more market share. We zeroed in on the
demand side, but this is not the way to sustainable
development since every company in Thailand is doing
this, says president and CEOSiriwat Vongjarukorn. So
we concentrated instead on building supply to bolster our
capacity to support companies as they grow.
Through supply side human capital development,
complemented with strategic ventures and partnerships,
MFECtargets a compound growth rate of 15 per cent for
the next decade.
MFECcollaborates closely with its clients to tailor
solutions according to their requirements and budget.
Aside fromfacilitating clients growth strategies and
boosting their revenues with best-of-breed solutions from
global technology partners, MFECalso innovatively
creates in-house solutions using technologies such as
open source and cloud computing. These solutions can
effectively cut the IT costs of clients by as much as seven
times.
Banking on its expertise to achieve further growth,
MFECaims to become more independent fromexclusive
vendor partnerships. MFECis building up its research and
development capacity to market its own products. This
strategy complements MFECs positioning as an
internationally renowned IT firm.
Aligned with its globalisation strategy, MFECopens its
doors to mergers and acquisitions with IT companies
fromChina and Japan that have more than10 years
experience in the industry.
These will be mutually beneficial partnerships. We
will help themgrowtheir business in Thailand just as they
can help us growour business internationally,
Siriwat says.
MFEC gears up for next decade
with strategic growth plans
Siriwat Vongjarukorn, president and CEO
Sponsored section in co-operation with Discovery Reports
Working with us is
a good opportunity
to make an impact
on real-world
health issues
through
multidisciplinary
research
Dr Kittichai Triratanasirichai
President
S8 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
A
ddressing the specific
requirements of
businesses entering
Thailand and the Asean,
WHACorporation
delivers its expertise in built-to-
suit projects.
Having secured its additional pre-
leased backlog of 500,000 square
metres in 2013 alone, WHAis poised
to reach its1million-square-metre
threshold by the end of this year. The
company is strengthening its position
as the regions No1provider of
warehouse, factory and distribution
centre design and construction.
Our success comes from
looking at what the customer needs
and planning the project together,
says Dr Somyos Anantaprayoon,
president and CEO.
WHAs client list reads like a
whos who of multinationals from
the United States, Japan, Europe
and Australia, including DKSH,
Primus International, Ducati
Motor, Kao Corporation, and
Japanese vehicle industry
majors including Nissan, Mazda
and Honda.
Since its establishment in 2011,
WHAhas completed 50 building
projects in more than 30 prime
locations throughout Thailand. Its
journey commenced with a DKSH
built-to-suit project in which WHA
provided proven assistance that
increased efficiency, reduced costs
and accelerated business growth.
WHAhas provided more than
90 per cent of DKSHs leasable
area nationwide.
WHAcontinued its success
with its warehouse farmconcept,
which features a strategically
located site that is ideal for
clients logistics requirements.
Dubbed the Mega Logistics
Center, the facility consists of a
built-to-suit and general
warehouse to serve the
overflowdemands of anchored
clients and other clients immediate
requirements. WHAhas completed
or, in some cases, is in the final
stages of completion of various
warehouse farms, including those in
the Bangna-Trad zone totalling more
than 600,000 square metres.
The companys research and
development department ensures
the best value in building technology.
Its cement formulation, for instance,
maximises cement strength and
cost-efficiency per square metre.
WHAalso focuses on green
initiatives that reduce clients energy
consumption. Its warehouse
ventilation systemreduces indoor
temperature by 3 to 4 degrees
Celsius without air conditioning.
WHAplans to use more than1million
square metres of its roof area to
generate approximately100
megawatts of electricity. In line with
the governments initiatives to
promote renewable energy, WHA
grows its solar energy capacity
alongside the yearly expansion of its
warehouse area. This sustains
WHAs earnings momentumand
improves tenants living standards.
WHAleverages its success to
help partners and clients establish
themselves in the region. Many of
our clients ask us to accompany
theminto Myanmar or similar areas,
Somyos says.
WHAalso pursues long-term
partnerships for newdevelopment
and co-development projects across
Southeast Asia. It welcomes
investors for its real estate
investment trusts and will increase
its property fund this month.
Built-to-suit
specialist shares
success with
strategic partners
Dr Somyos
Anantaprayoon,
president and CEO
Sponsored Section in co-operation with Discovery Reports-
Advanced battery charging
technology has the potential to take
solar energy to widespread use
among homes and electric vehicles
throughout Southeast Asia.
Solartron, which is vigorously
expanding solar power generation in
Thailand, plans to spread its
advanced technology by taking
advantage of regional integration in
Asean by 2015.
Solar will be the key renewable
energy source in the near future,
says Patama Wongtoythong,
CEOof Solartron.
The first and only solar energy
company listed on the Stock
Exchange of Thailand, Solartron
pioneered the nations solar module
assembly in 2005.
The company is also behind
Southeast Asias largest solar plant
the 44-megawatt solar project of
Bangchak Petroleumin Ayutthaya
province. As engineering,
procurement and construction (EPC)
contractor for the Bangchak project,
Solartron guarantees the plants AC
output for 25 years, a global first in
power warranty schemes.
Providing 80 per cent of
government solar installations in
Thailand, Solartron further helped the
Thai government roll out solar water-
pumping systems across vast rural
areas together with Grundfos, one of
the worlds largest solar pump
makers. Solartron provides custom-
built solar installations as grid-
connected systems and for street
and traffic lighting, telecommuni-
cations and battery charging
systems. Industrial clients include
Thai trading house SCT, SiamUnited
Steel and Daikin Industries. Asolar
module supplier to Germanys
Schco, it also exports to
neighbouring Southeast
Asian countries.
Regional economic integration
within Asean will make the
companys advanced battery
charging technology more affordable
across the envisioned Asean
Economic Community. Solartron is
keen on partnerships with EPC
contractors in Indonesia, Malaysia,
Cambodia and Myanmar as a first
step to spreading the technology.
We will make our product
perfect for any local setting, Patama
says. With a network of local EPC
contractors and suppliers of related
equipment such as inverters and
transformers, we want to penetrate
the Asean and Middle East markets.
Solartron advances home-grown
solar power technology
Patama Wongtoythong, CEO
Sala, a Thai word that means a place
of rest, is in essence what SALA
Hospitality Group provides to anyone
who sets foot in its intimate and
luxurious accommodations located in
some of Thailands most popular
travel destinations. The home-grown
hospitality firmhas established an
independent chain of hotels known
for its pool villas and suites operating
under the trademarks SALAResorts
&Spas and sala boutique. Barely a
decade old, SALAhas become a
trusted brand offering first-class yet
affordable guest services.
We aimto deliver a top-quality
product at a reasonable value,
says Anthony van Sleeuwen, cluster
general manager for sala
boutique properties.
Astrong domestic following and
an increasing Asian and European
clientele have propelled SALAs latest
expansion two riverside retreats,
sala lanna Chiang Mai and sala
rattanakosin Bangkok, which opened
in April. In operation for a few
months, sala rattanakosin Bangkok
has been featured in Cond Nast
Travelers Roomwith a View for its
iconic vista of Wat Arun (Temple of
Dawn).
To complete SALAs kingdom
boutique properties, sala ayutthaya,
located along the banks of the Chao
Phraya River, will be unveiled next
year. Indulging guests with resort-like
amenities and experiences, sala
boutique hotels are oases within
cities. The firms initial boutique
project, sala khaoyai, is a private
mountain retreat in Khao Yai.
SALAis slated to open its flagship
property, SALAChaweng, in early
2015, which will operate under the
SALAResorts &Spas brand. SALA
Samui and SALAPhuket are the
firms first luxury spa hotels, featuring
abundant private space and a serene
atmosphere for relaxing beach
holidays.
We infuse Thai culture and
hospitality in all our properties and
provide a personal and intuitive
service to our guests, van Sleeuwen
says. We aimto bring SALAs
concept of affordable luxury to
neighbouring markets in the
near future.
SALA offers intimate and
luxurious accommodations
Anthony van Sleeuwen,
cluster general manager
Creating a presence in the premium
luxury segment of the glassware
industry is no small feat. With a
strategy anchored on quality,
innovation and operational
excellence, Ocean Glass is ready to
take on long-standing European
brands with its luxury crystal
stemware, Lucaris.
Never before in Asia has this
kind of crystalline glassware been
produced at this scale and quality,
says Sunsanee Supatravanij,
managing director. The Lucaris
brand is a testament that world-class
quality can come out of Asia.
Lucaris, dubbed the crystal of
modern Asia, is a fusion of Eastern
expertise and Western technology,
incorporating the glassmaking know-
howof Ocean Glass and Japanese
partner Toyo-Sasaki Glass with state-
of-the-art technology fromGermany.
Ocean Glass is one of the few
companies in the world to offer lead-
and barium-free crystal glass with
outstanding clarity, brilliance and
durability. In numerous blind tests,
wine enthusiasts and food service
professionals chose Lucaris over the
stemware of major European brands
in terms of wine sensory,
functionality and aesthetic quality.
Inspired by Asias modern cities,
Ocean Glass came up with four
Lucaris collections Bangkok Bliss,
Tokyo Temptation, Shanghai Soul and
Hong Kong Hip, all designed to bring
the ultimate luxury in dining
experience. The collections also
represent the firms renewed focus
on Asia. Outside of Thailand,
Vietnam, China and India are our big
markets, Sunsanee says. We aim
to own the most valuable tabletop
glassware brand in Asia.
In the business for more than
three decades, Ocean Glass has
been providing befitting glassware
for every occasion under its
established Ocean and Ocean
Professional brands. The firms
portfolio covers glassware for
everyday use and a variety of
professional-grade items for
different dining atmospheres.
We are not here to sell
glassware, its really about creating
lifes pleasures, being part of peoples
happiest times to eat, drink and be
merry, Sunsanee says.
Ocean Glass enters luxury
high ground with Lucaris
Sunsanee Supatravanij, managing director
Friday, November 8, 2013 S9
SPECIAL REPORT: THAILAND COUNTRY REPORT
Plastic bags are indispensable for
processing, storing, transporting and
disposing of a variety of goods. Taking an
active stance to source out alternatives to
conventional plastics and promote Thailand
as a bioplastic hub, Multibax manufactures
cost-efficient biodegradable products using
local plant-based resources.
As one of Thailands leading export-
based plastic bag manufacturers, Multibax
has grown rapidly since its inception in1995.
Our products are tailored to client
specifications, says Surachai
Atsawakaewmongkhon, managing director.
Most of our clients are multinational
companies with very high expectations, so
we have to comply with different
international standards.
To meet the increasing global demand
for compostable products, Multibax has set
up its research and development facility to
formulate its biodegradable plastic resin
and bag and to reduce the cost of
conventional plastic production. It maintains
a strong network with university-based
researchers and works closely with Thai
government agencies such as the National
Innovation Agency (NIA). Our bioplastic
bags are100 per cent compostable within
six months and do not release potentially
harmful substances into the environment.
For our formulation, we use tapioca starch
mixed with bioplastic resin, says Pisuth
Lertvilai, deputy managing director.
Compostability, strong mechanical
property and competitive pricing are the
three essential ingredients that make
Multibaxs business a success. It has the
seal of approval frominternational
certification bodies such as DINCERTCO
fromGermany, Vinotte fromBelgiumand
the Biodegradable Products Institute from
the United States.
NIAawarded Multibax the National
Innovation Award in October last year in the
economic impact category, which
demonstrates the companys strong
commitment to strengthen the Thai plastic
sector and enhance quality of life.
Part of its long-termgoals is to forge
strategic partnerships with European firms
for biodegradable products and to create a
solid base in the Asian market, with focus
on Japan, China, Malaysia and Singapore.
Multibax continuously seeks better
formulations to improve its product quality
and optimise production cost.
Multibaxs biobags provide
sustainable packaging solutions
Surachai Atsawakaewmongkhon,
managing director
As one of thefirst engineering consulting
companies inThailand, SEATEC, along with
its affiliates, has beenworkingwith theThai
government, privatecompanies and
international institutions sinceits foundation
in1969.
Representing theSEATECGroupof
Companies for morethanfour decades,
Dr SubinPinkayan, SEATECs founder and
chief honorary adviser, sawthe company
growfroma small outfit specialisingin water
resourcedevelopment, intoagroupof
companies addressingsocietys needs and
servicing clients inThailandandacross Asia.
We are not inthefieldof engineering
only but in the field of humanneeds, Subin
says. Theworld needs food, energy,
infrastructureand theawareness to
conservetheenvironment. We are
concentrating on thesethings.
SEATECGroup provides services that
support theentirelifecycleof a project. Its
successful initiatives includea master plan
for Dubais PalmIslands, construction
supervision for Bangkoks Suvarnabhumi
Airport and various projects for the Royal
Thai Government and multinational
companies.
Thailand has enjoyed a decade of
steady growth, says Salin Pinkayan,
SEATECpresident. It will continue to grow
as the government plans to invest trillions of
baht in the coming years in mega-
infrastructure projects to increase the
countrys competitiveness.
As development projects in Southeast
Asia increase in complexity and size, SEATEC
Group continues to improve its technical and
technological capabilities to meet the
increasing demands of clients. Offering the
full spectrumof consulting services from
feasibility studies to design and supervision,
the group continues to expand its reach into
neighbouring Asean markets such as
Myanmar, Laos and Cambodia.
We continue to expand with the Asean
economies and explore overseas projects,
focusing mainly on Thailands neighbours,
Salin says. With the Asean Economic
Community coming up, were in a good
position to carry out innovative projects in
Thailand and the region.
SEATEC Group expands reach
into emerging Asean economies
Dr Subin Pinkayan, founder and
chief honorary adviser
L
ocal insight, a robust
product portfolio and
successful collaborations
with top brokers in the
region have made Finansia
Syrus Securities one of Thailands
leading stockbrokerage
companies.
As one of the largest retail
brokers in the country, we have an
in-depth understanding of what is
happening here. We are on the
ground, says Chuangchai
Nawongs, CEOand president.
Catering to high-net-worth
individuals and institutional
investors, Finansia Syrus offers
investment advisory, securities
trading, derivatives, mutual funds
and investment banking. The
company boasts the best service in
securities borrowing and lending.
Leveraging its large customer base,
clients can easily access shares
they are borrowing.
We provide with efficiency the
services our clients seek to
manage their wealth, Chuangchai
says. Being independent gives us
the flexibility to adapt to clients
rapidly changing needs. We are not
encumbered as a subsidiary of a
banking group. Finansia Syrus has
over 900 employees with 40
branches across the country. It
ranked second in equity trading last
year and the first half of this year.
By using various platforms, the
company ensures trading
efficiency. Its electronic trading
allows foreign investors to
participate directly in the
Stock Exchange of Thailand.
In co-operation with OCBC
Securities, Finansia Syrus has also
developed Global Trading Platform,
which allows local investors to
trade in14 exchanges globally.
Finansia Syrus is also a member of
the Asean Trading Link, which went
live in September last year. Initially
incorporating Malaysia, Thailand
and Singapore, the platform
reduces cross-border barriers and
trading costs involved in tapping
into the more than US$2 trillion
combined market capitalisation of
Asean bourses.
We want to establish a trading
hub for Indochina so foreign
investors can trade through us in
countries like Vietnam, Cambodia,
Laos and, in the future, Myanmar,
Chuangchai says. We want to do
in Indochina what brokers did in
Singapore15 years ago, using the
country then as a trading base for
Asean.
Finansia Syrus is also the leader
in investment banking activities in
Thailand. It acted as lead
underwriter for five issuers out of
11initial public offerings launched in
the country last year.
Finansia Syrus welcomes
client-focused partners with
excellent platforms and research
capabilities to further strengthen its
entry into investment banking. This
covers mergers and acquisitions,
underwriting and wealth
management.
Finansia Syrus
Securities
to develop trading
hub for Indochina
investors
As one of the
largest retail
brokers in the
country, we have
an in-depth
understanding
of what is
happening here
Chuangchai Nawongs
CEOandpresident
Sponsored section in co-operation with Discovery Reports
With four decades of experience,
five manufacturing sites and more
than1,500 employees, DSG
International (DSGIL) is firmly
established in Asia.
DSGIL is a holding company that
operates through two major
business entities in the region. Its
main businesses are in
manufacturing and marketing
branded baby and adult disposable
diapers. Founded by its chairman
Brandon Wang in1973, the DSG
Group serves the East Asia region,
primarily covering Hong Kong and
the mainland. DSGIL supports the
Southeast Asia markets through
publicly listed subsidiary DSG
International (Thailand) (DSGT).
Owing to market fundamentals
such as a growing birth rate,
an ageing population and increasing
consumer affluence, DSGT further
strengthens its presence throughout
Asia while recognising market
segmentation. DSGT promotes
brand consumption for existing
products and creates more with
value-added specifications.
DSGT maintains brand equity for
its disposable baby products, with
trusted labels in Asia such as
BabyLove in Thailand, Fitti in
Indonesia and PetPet in Malaysia.
For adult incontinence products, its
Certainty brand has been a market
leader in Thailand for many years.
Achieving rapid growth since its
inception in1994, DSGT has doubled
its revenue in three years, from
3.4 billion baht (HK$850 million) in
2009 to 6.8 billion baht last year.
We continually improve our
tape and pants products, and launch
newones every12 to18 months with
unique consumer benefits. We are
the first in Asia to introduce baby
diapers for night-time use, says
DSGT CEOAmbrose Chan.
DSGT sells through multiple
channels, including modern trade,
retail stalls and hospitals. Over half
of DSGTs sales come fromThailand,
and about 40 per cent come from
Malaysia, Singapore, Indonesia and
export markets. DSGT looks into the
sizeable markets of Indonesia,
Vietnamand China for potential
strategic partnerships.
We look forward to creating
synergies with local players with
extensive selling and distribution
capabilities to complement our
marketing, product development
and technology expertise, Chan
says. Such partnerships will enable
us to accelerate growth through
portfolio expansion in line with
market demands, and geographical
expansion to reach under-
penetrated emerging markets.
DSGT captures Asian markets
through localised strategies
Ambrose Chan, CEO
S10 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
AThai family-owned and managed
firmhas been a strategic partner to
many of the worlds leading and
prestigious brand names in the luxury
industry for almost five decades,
using its track record on quality as its
only marketing tool. Cosmo Group
caters to high-end timepiece
manufacturers, providing tailor-made
watch dials, cases, buckles and
metal accessories, in addition to
elegant packaging or gift boxes and
presentation displays.
Cosmo has developed a high
level of craftsmanship, mainly
through its close partnership with
Swiss society Gainerie Moderne that
dates as far back as the1960s. In
serving its niche market, Cosmo
offers a complete service platform,
covering design and prototyping up
to manufacturing and product
distribution, thereby freeing
clients to concentrate on building
their brands.
We produce quality, not volume,
and focus on where we have
expertise, says CEONaruepon
Techawatanawana, son-in-lawof
chairman Chairod Mahadumrongkul,
who founded the firmin1964. To
ensure quality, we forge personal
relationships with our customers,
establishing expectations fromthe
beginning and working with them
throughout the process.
Cosmo has grown to become a
group of companies with two box
production sites in Bangkok, run by
Cosmo Group-Box, Cosmo Group-
Dial and Prime Box, and a sister
factory in China, operated by
Hainan Midas.
The firms expansion is attributed
to a stable family management and
dedicated staff. We invest in making
our employees highly motivated; this
is the key to increasing productivity
and operational efficiency,
Naruepon says.
Cosmo combines Swiss know-
howand innovation with Asias
production strength and values to
serve luxurious brands in the
automobile, spirits, watch, jewellery
and food sectors.
Cosmos packaging and displays
emphasise the beauty of the
precious pieces they carry helping
boost brand and product identity.
The luxury market has a huge
growth potential, Naruepon says.
In this industry, we are not merely
selling products, but were helping
fulfil peoples dreams.
Cosmo Group carries on
tradition of quality
Cosmo Groups high level of craftsmanship has spanned generations.
Sponsored Section in co-operation with Discovery Reports-
I
n high-risk areas, such as
finance and securities, most
companies adopt a
conservative and prudent
business approach. For Asia
Plus Securities, taking the path that
other companies fear to tread leads
to success.
We always try to be the first in
achieving things deemed
impossible, says Dr Kongkiat
Opaswongkarn, CEO.
Asia Plus Securities has carved
a niche as one of Thailands leading
securities firms through its
innovative services. It was among
the first to offer a comprehensive
finance research portfolio in the
country, with access to170 firms
listed on the Stock Exchange of
Thailand (SET) and covering
90 per cent of Thailands market
capitalisation. It also served as the
financial adviser that brokered the
first and largest merger and
acquisition (M&A) transaction
between Thailands two largest
department stores in1996.
Boasting a diversified suite of
services, Asia Plus Securities is an
investment banking house with
impressive track records in initial
public offerings (IPOs), public
offerings and M&A. Through IPOs,
the company has been instrumental
in raising HK$3.45 billion for clients
in the past three years. This figure
represents 28 per cent of the total
IPOfunding value on the SET and
the Market for Alternative
Investment, a platformfor newfund-
raising business opportunities with
broader investment alternatives.
Asia Plus Securities also offers
asset and wealth management
services. Through the Wealth Plus
wealth management arm, the
company provides a portfolio of
sound investments for its high-net-
worth clientele. Asset Plus Fund
Management, on the other hand, is a
vehicle that provides investment
alternatives.
We have been active in
providing foreign investment
products with higher returns but
equivalent risk to domestic
investment, thus increasing
the upside gain without
compromising the risk,
Kongkiat says.
Under these two
operations, the company
manages a net asset value of
more than HK$9.71billion.
Investment banking is a
thriving business segment for Asia
Plus Securities. Through its
extensive network, it
facilitates cross-
border deals to help
Thai companies
expand locally and
internationally.
Asia Plus
Securities
advised a major
local vehicle parts producer to
acquire a Japanese auto parts
company with worldwide
production bases.
In addition to overseeing
outbound investments, the company
also serves as a conduit for inbound
investments. It helps Chinese
companies establish a footprint in
Thailand.
Further opening Thailands doors
to foreign investors, Asia Plus
Securities partnered with NewYork-
based investment bank Jefferies in
providing equity research on Thai
securities and local equity
brokerage services to Jefferies
clients.
For companies interested in
coming to Thailand, talk to us at Asia
Plus Securities. We are a Thai
company that knows howforeigners
think, Kongkiat says.
Asia Plus
Securities helps
companies boost
competitiveness
Dr Kongkiat
Opaswongkarn,
CEO
For companies
interested in
coming to
Thailand, talk to us
at Asia Plus
Securities. We are
a Thai company
that knows how
foreigners think
Kongkiat Opaswongkarn
CEO
Aconsistent focus on quality is
crucial in the engineering and
fabrication business. Unimit
Engineering, a leading steel
fabricator in Thailands oil and gas,
petrochemicals, power and energy
industries, has proven this with
stable financial results despite past
economic crises. Market expansion
is driving demand for the companys
expertise, with neworders nearing
the peak level reached in 2007.
We see the trend of more
demand for repair and maintenance
work, says John Lu, Unimit
Engineering co-president.
Petrochemical companies are
either expanding their capacities or
upgrading plant equipment that is10
to15 years old, while oil refineries
are upgrading their systems to
comply with Euro IVstandards.
Weve been involved in their
expansion cycle.
Most orders are fromlong-
standing customers. Unimit has
been certified by the American
Society of Mechanical Engineers
with ASME U, U2, R and S
stamps for more than 20 years. It
was the first local Thai fabricator of
storage tanks for liquefied petroleum
gas (LPG). It remains the market
leader in this segment and is
unmatched locally in fabricating
columns that can be120 metres long.
Among a select fewinternational
fabricators that can produce high-
pressure vessels of up to 5 inches in
thickness, Unimit is on the approved
vendors list of Thailands leading
petrochemical and oil and gas
players such as PTT and its family of
subsidiary companies. With its
certifications for quality
management systems (ISO9001),
workplace safety (OHSAS18001) and
environmental standards (ISO14001),
the company has also worked with
most international engineering,
procurement and construction firms
fromthe United States, Europe,
Japan, South Korea and Thailand.
We are a cost-effective
quality fabricator and our
job references go back
30 years, Lu says.
With managers
who have been with us
for 15 to 30 years,
we keep the
expertise within
the company.
Unimit is
sustaining the
success with its latest product
innovation and a prudent export
strategy.
Two years in the making,
Unimits product line of cryogenic
tanks is suited for liquefied natural
gas (LNG), liquid oxygen, liquid
nitrogen and liquid carbon dioxide.
Well-timed for the regions LNG
boomand conversion to cleaner
energy sources, the double-walled
cryogenic tanks maximise storage
space and lower transportation
costs.
With cost-effective pricing,
Unimit makes it economically
feasible to export cryogenic tanks
even to the South Pacific region.
The company is also eyeing the
international market for its LPG
tanks, heat exchangers and small-
sized pressure vessels. It welcomes
partnerships to advance exports
to the Middle East, Myanmar
and Indonesia.
Unimit Engineering reaps
rewards for focus on quality
Fromday one, King Mongkuts
University of Technology Thonburi
(KMUTT) has been changing the
landscape of Thailands higher
education with its culture of
innovation. As the countrys leading
science and technology university,
KMUTT adopts Massachusetts
Institute of Technologys work-
integrated learning concept into the
local industrial setting. Engineering
students spend one semester of their
four-semester masters degree
course working with engineers from
companies such as PTT and SCGto
gain practical experience.
We coined practice school in
Thailand, says KMUTT president
Dr Sakarindr Bhumiratana. We
combine science and engineering
and our learning process with the
industrys requirements to produce
the best graduates.
The countrys first autonomous
university, KMUTT introduced
graduate schools for specific areas
such as energy and materials,
bioresource and technology, energy
and environment, computational
research and robotics. In the same
pioneering spirit, the university is
expanding its offerings. It is working
with Ben-Gurion University of the
Negev in Israel on Thailands first
dual-degree graduate school in
energy and environment. KMUTT is
also following Olin College of
Engineering in Boston in developing
a curriculumfor Thailands first
liberal arts campus.
As one of the countrys nine
national research universities,
KMUTT leverages industrial and
government partnerships to help the
Thai society and economy. In
collaboration with the Ministry of
Health, Ministry of Science and
Technology and biotech centres,
KMUTT has established the National
Biopharmaceutical Facility to ensure
the countrys supply of drugs and
other biopharmaceutical products.
KMUTT is expanding its foreign
student population to10 per cent
through its membership in the
Southeast Asian Technical University
Consortiumand long-standing
partnerships with Japanese and
Taiwanese schools.
We would like to bring students
fromother Asian countries to work
with their Thai counterparts to
produce knowledge and talent for
the region, Sakarindr says.
We want to promote practical
excellence in things that matter.
KMUTT supports
industries through
work-integrated education
Dr Sakarindr Bhumiratana, president
We are a cost-
effective quality
fabricator and our
job references go
back 30 years
JohnLu
Co-president
Friday, November 8, 2013 S11
SPECIAL REPORT: THAILAND COUNTRY REPORT
I
nfrastructureandconstruction
projects intheAsia-Pacificare
onthe upswing, accountingfor
almost 50 per cent of theglobal
craneconsumptionvalue.
Demandfor cargocranes inThailand,
inparticular, is forecast togrowat
least 10 per cent as thecountry
develops intoa major regional
cargo-distributionhubunder the
AseanEconomicCommunity. Firmly
establishedtobear thestrong
demandfor heavy-liftingequipment
inThailandand overseas, ChuKai
is poisedto transformthe
challenging industry intoarobust
sector.
As one of Thailands topthree
heavy-liftingcompanies, ChuKai
sells, leases andrepairs cranes used
inthehoisting, installationand
assembly of various heavy equipment
andobjects. Thecompany manages
afleet of 200 mobilecranes for rent
andis theonly heavy lifter inthe
country that can hoist anobject
weighingupto1,250 tonnes. It also
offers repair services, employing
around100 technicians toserveits
growinglist of customers.
Weprovide safety, quality and
timely repair services toour
customers, says Jiraporn
Praerangsri, executive
vice-president.
Weare popular inThailand
becauseour quality is goodandour
priceis very
competitive.
ChuKai
startedas a
forklift
trading
company
25 years ago. Guidedby founder
Thongchai Praerangsi, it expandedto
includecranes andgrewits business
by focusingontheweight category.
Thanks toPraerangsis vision and
entrepreneurial spirit, thedecision
toexpandandfocus onlifting
capacity openedupopportunities
for thecompany toreachnew
markets andcement its spot inthe
Thai heavy-liftingindustry.
Wealways findaway todo
impossiblethings, says Lert
Nitheranont, chief operatingofficer.
Wearefocusedontechnology and
wetransfer all knowledgetothe
team. We absorbas muchas wecan
fromother advancedcountries and
buildtheteamtoimproveour
services.
ChuKai ensures its products and
services conformtothelatest
international safety andprocedure
standards. Thecompany inspects its
cranes every threemonths based on
government policies. Ateamof
Britishengineering experts manages
its fleet of largecraneoperations
consideredabigadvantageover
other local companies.
As amark of trust, Zoomlionone
of Chinas leadingmanufacturers of
high-quality cranes chose ChuKai
tobeits exclusivedistributor. Key
infrastructure, energy, environment
andtransport engineeringprojects
worldwide use Zoomlion
machines for its advanced
technologies andreliable
equipment designs.
Replicatingits
successful collaboration
with Zoomlion, ChuKai
is keen onshapingmore
distributionpartnerships to serve the
growingdemandfor other lifting and
handlingequipment. Next to cranes,
theforklift trucks and mobile truck
mount cranecategories are forecast
toreachconsumption values of
US$16.3 billionandUS$9.5 billion,
respectively, intheAsia-Pacific.
Westick towhat we are good
at, Jirapornsays. We work
honestly andshare our expertise to
maintainour corebusiness and core
customers.
Coveringawide range of
industries suchas construction,
import andexport, refinery, power
andpetrochemical plants, Chu Kai
seeks toservethemining, offshore
andmarinesectors. It targets
international co-operations similar
toits project withan offshore
company basedinAustralia. Chu Kai
lifts 300-tonneto400-tonne
equipment models fabricated in
Thailandandtransports the machines
ontoships.
Withincreased activities in
neighbouringcountries Laos,
Myanmar andVietnam, Chu Kai is
forgingstrategic partnerships with
logistics andtransport companies to
complement its service offerings.
Oneof thetrends nowis going
towards liftingandtransporting
heavier andbigger objects, Lert
says. Werelooking at
collaborating with
companies overseas and
possibly pursuing joint
partnerships to expand
our markets and
develop our logistics
andtransport
capabilities.
Chu Kai expands to
hoist Asias heavy-
lifting industry
Jiraporn
Praerangsri,
executive
vice-president
Thongchai
Praerangsi,
founder
The friendliness, graciousness and warm-hearted
hospitality that are the hallmarks of Thai culture are
translated into every guest experience at lebua
Hotels &Resorts. Presenting the best of Thai
culture, lebua welcomes guests fromdifferent
countries including the United States, Germany,
Japan, Australia and India. The company is ready
to give the same Thai brand of service to guests
coming fromChina.
The philosophy of lebua is to showwhat the
real Thailand is to the world, so we knit Thai
cultural values into our service processes, says
CEODeepak Ohri. We understand people and
deliver exactly what they want.
These values add a personal touch to even the
smallest detail of every service at a lebua property
fromthe way guests prefer to be addressed to
howthey choose their wine and value their
privacy. This level of service has placed lebuas
percentage of repeat clientele among the highest
in Bangkok.
To make guests fromChina feel at home in its
flagship properties Tower Club at lebua and lebua
at State Tower, lebua launches its China 2020
concept this month. Breeze, lebua Bangkoks
restaurant, will offer a special la carte menu for
one year to embody this forward-looking concept
on bringing the taste, look and feel of Chinese
dining in 2020.
China 2020 is very exciting because we are
predicting the future, Ohri says.
This concept of looking to the future also finds
expression in lebua Resort, Jaipur, which brings
ancient palace splendour to the 21st century. The
resort is one of lebuas three properties in India that
give life to its palace concept Devi Garh by lebua
in Udaipur as a traditional palace, lebua Resort in
Jaipur as a modern-day palace, and lebua Lodge
at Amer as an emperors weekend getaway.
Steeped as they are in local Indian tradition, these
properties are imbued with the same Thai values to
give guests the best possible service.
Looking to bring these Thai values to other
parts of the world, lebua opened Lake Okareka
Lodge by lebua in NewZealand. It also plans to
open resorts in China and Indonesia, and
co-market properties in German-speaking
countries in Europe.
Staying at lebua is not an experience where
you just come and go, Ohri says. It is something
embedded in your mind that tells you that you need
to visit this place again.
Best of Thai culture
welcomes China at lebua
Deepak Ohri, CEO
Thailands natural extracts and
essential oils industry is in full bloom,
stemming fromseeds sown by
Thai-China Flavours and Fragrances
Industry (TCFF). As the industrys
pioneer, TCFF produces scents, oils
and extracts for spas and hotels,
food and beverage, cosmetic and
pharmaceutical applications.
Perfume is used in many of the
products we use throughout the day.
We can produce these perfumes
using Thai plants, says managing
director Sathaporn Kietthanakorn.
TCFFs latest developments
include natural colouring agents
extracted fromplants endemic to
Thailand. These agents, which may
be used instead of synthetic food
colouring, will be launched at a
cosmetics exhibition this month.
Under TCFFs Nanotechnology
Development Project, the company
has developed products such as
PillowMist. TCFF uses
nanotechnology to extend the
soothing effects of PillowMists
active ingredient fromtwo to eight
hours. This ingredient is also derived
froman indigenous Thai plant.
We go back to our Thai
traditions and blend themwith our
technology to develop newproducts
for our customers, says marketing
manager Sakorn Kietthanakorn.
Many of these customers are
leading hotel and spa chains such as
Banyan Tree Holdings, for which
TCFF exclusively manufactures
tailor-made products.
Creating more products to
meet the needs of customers in
local and international markets is the
goal of TCFFs research and
development (R&D) department,
which works closely with the
companys market research team.
Since forming a joint venture with
Guangzhou Baihua Flavours and
Fragrances in1988, TCFF continues
to develop its R&Dvia collaborations
with educational institutions such as
Chiang Mai University.
To increase the regional market
for its products, TCFF plans to
intensify its operations in Indonesias
halal food and beverage industry,
and the aromatherapy and
cosmetics markets of Singapore and
Malaysia. TCFF seeks partners with
similar products or that are well-
established distributors in these
countries.
TCFF ensures the quality of its
products beginning with the raw
material, which includes the careful
selection of plant species, planting
and harvesting. The companys
quality-control protocols comply
with standards set by the
International Organization for
Standardization, Hazard Analysis
and Critical Control Points and Good
Manufacturing Practice.
Integral to TCFFs quality control
is the training of its farmers, which
underscores its long-term
commitment to the local farming
community. The companys new
factory in Chiang Rai, where the
colder climate supports a wider
variety of plants, will also benefit
farmers in the province. We
cannot run our business without the
local farmers, Sathaporn says.
TCFF infuses fresh essences
into regional industries
Sathaporn Kietthanakorn, managing director
We go back to our
Thai traditions and
blend them with
our technology to
develop new
products for our
customers
SakornKietthanakorn
Marketingmanager
Sponsored section in co-operation with Discovery Reports
S12 Friday, November 8, 2013
SPECIAL REPORT: THAILAND COUNTRY REPORT
Sponsored section in co-operation with Discovery Reports
T
hailand is a natural fit for a
second home in Asia. Based
on steady foreign
investment and a strong
manufacturing sector, the
kingdomfaces strong economic
prospects as the hub of emerging
economies in Asean. Among the
worlds top tourist destinations, it
draws more than 22 million
international visitors annually.
Furthermore, the infrastructure
build-up in upcountry locales is
creating fresh opportunities for
continued international investments.
With the assurance of fully
integrated services in well-appointed
properties across prime locations
nationwide, Sansiri makes owning a
holiday home in Thailand not
just an attractive notion, but a
realisable future.
At Sansiri, Invest in a way of life
is a core belief. This means investing
in a physical asset comes with total
relaxation at an exclusive resort
neighbourhood such as Baan Mai
Khao, the companys premium
beachfront condominiumproject in
Phuket. It translates tobreathtaking
views fromspecially designed
verandas at BaanPlai Haadin Pattaya
andThe Deck intherenownedtourist
havenof Patong.
For thebusy executive, Invest in
a way of life entails conveniences
such as accessing delivery and billing
alerts alongwithhome, childcareand
directory services throughan
exclusiveonlineportal. For family
members, it offers acontinuous
streamof dining, health, beauty and
recreationprivileges, includingan
annual regatta.
We bringinthebest service toall
our properties, says Apichart
Chutrakul, Sansiri CEO. Weare
building communities for our clients to
live inandenjoy a trouble-free lifestyle
as muchas possible.
Buildingworld-class experiences
Providingfully integratedservices
for the entiresuiteof its residential
andcommercial properties, Sansiri
has been carvinganichein the
Thai property market for thepast
twodecades.
Apichart foundedthe company,
then knownas SanSamran, in1984
and renamed it Sansiri withtheentry
of theSiripinyoGroupin1994. The
company went publicin1996 and
establishedPlus Property in1998 to
provide brokerage services, sales
management, development
consultancy, property management,
building inspectionandworld-class
conciergeservices.
Fromsingle-detachedhomes,
townhouses andcondominiums to
commercial spaces and office
buildings, thecompany has developed
263 projects across Thailandanda
condominiuminLondons Kensington
district for overseas Thais. It emerged
as Thailands topdeveloper last year
with a16 per cent market shareinthe
residential segment.
With its pre-sales success, Sansiri
has lined up47 newcondominiumand
housingprojects this year, 24 of which
will be located inBangkok. The
project pipelineincludes growth
areas throughout thecountry, with
developments inkey locales such as
ChiangMai in thenorth, UdonThani
andKhon Kaeninthe northeast,
Pattaya, HuaHinand Rayongalong
thegulf, andPhuket inthesouth.
Focused onexpandingits
overseas buyer base, the company is
extendingtheSansiri lifestyle
experienceto foreigners eyeing
holiday homes or property
investments inThailand. Although
property prices havebeenrisingin the
country dueto its enhanced
economicprospects, Thailand
remains amoreaffordable optionthan
HongKongor Singapore. Theoverall
cost of livinginThailandfor a
comparableor an even better quality
of lifeis also substantially lower.
Thailands CondominiumAct
allows foreigners todirectly purchase
freeholdcondominiumprojects. While
absolute landownership remains
restricted, this condominiumlaw
provides foreignbuyers alevel of
consumer protectionthat is not
availablewith other property types. To
further ease theprocess, Sansiri
ensures timely andtransparent
transactions throughaward-winning
informationtechnology systems for
call centresupport and online
contract management.
Property management and
conciergeservices makeabig
differencetoforeignbuyers, so we
maketheseafter-sales services highly
accessible, Apichart says.
As alifestyleleader intheproperty
industry, Sansiri releaseda Home
ServiceApplication toenhance
customer services, a first in Thailand.
Co-developedwithPlus Property, the
applicationgives property owners and
residents remote access toconcierge
services throughmobiledevices,
personal computers or via
touchscreen stations deployedin
Sansiri properties.
Theapplicationalsoallows users
to retrievedelivery andbillingalerts,
personal messages fromSansiri
officers regarding property concerns,
andinformationon home care, maid
services, security and other available
services. All transactions withinthe
systemwhether queries, requests,
complaints or suggestions are
traceable, andresidents are notified
about theprogress ontheir concerns.
Sansiri plans toprovidereal-time
interaction through theHomeService
Applicationinthenear future.
Themed developments
Thedevelopment philosophy
behindSansiris all-inclusive
offerings captures theaspirations
of a diverseclientele that has
cometo rely onthecompany to
deliver high-quality properties
reflectinga chosenlifestyle.
For the modern andhipyounger
generation, it offers EDGE Sukhumvit
23, an exclusivecity oasis
incorporating hi-techfeatures suchas
a lobby that uses mood lighting,
amovinggallery in the lift andan
open-air roof deck. The35-storey
condominiumalso features rare
greenery for anurban condominium.
Sansiris designinnovation is
further showcasedalong Sukhumvit
Road with theViaBotani, Via 49 and
Wynecondominiumprojects. Part of
theAestheticCollection, ViaBotani
and Via 49 cater to ahigh-end
clientele that value aesthetically rich
spaces. Via Botani is designed around
a glorious treethat has prosperedon
Sukhumvit 47 for generations, while
Via49 is consideredan architectural
landmark onSukhumvit 49. The
mid-segment Wyneproject near
Sukhumvit 71features theLive with
Attitude concept fully furnished
units that canbedecoratedaround
thepassion of its owner, whether it is
cooking, fashionor travel.
Responding tothe needfor high-
quality residences in urbanising
provinces, Sansiri has extendedits
dcondo brandtoChonburi, Chiang
Mai, Surat Thani, Songkhlaand
Phuket all high-potential locations.
Convenienceis emphasisedin
dcondo projects as they cater to
students, youngprofessionals and
growing families. Like its
predecessors inBangkok,
whicharenear Skytrainand
subway routes, thenewdcondo
projects makehospitals, schools,
shoppingandrecreational
destinations readily accessible.
Locationis likewiseastrong
sellingpoint of Sansiri properties
targetedat professional expatriates
and retirees. The companys resort
condominiums are inall of Thailands
major tourismzones.
Its flagship project inPhuket,
BaanMai Khao, is situatedright on
the world-famous Mai KhaoBeach
alongsidefamous luxury hotels and
spas. It features Sino-Portuguese
architectural elements andasemi-
outdoor lobby that opens tothe
shimmering seaandverdant
landscape. Thesame relaxing
ambienceis cultivatedat TheDeck in
Patong, Baan Plai Haad inPattaya
and theMediterranean-themed
ChelonaKhaoTaoin HuaHin. These
beachfront condominiumproperties
are all surroundedby shops, bars and
other popular venues.
Thecompany is alsodevelopinga
mountainresort in northeastern
Thailand called TheValley. Theluxury
estateis near theKhaoYai forest, the
third-largest national park inThailand
and aUnescoWorldHeritage Site.
The serene natural environment,
combinedwithmodernamenities,
makes it ideal for long-termresidential
and investment purposes.
Sansiri provides thebest
products toevery market segment
froma1-millionbaht (HK$250,000)
condominiumunit toa100-millionbaht
luxury estate, Apichart says. Our
more than250 projects nationwide
cover every housing preferencein the
market.
Sustainability
Sansiri goes beyondservices and
properties to encompass the
communitys social well-beingand
health. As anintegral part of theThai
business community, the company is
a leader ingiving back tosociety. It
has partneredwith Unicef Thailandin
the sustainable Social Change
programmethat fosters afamily-
friendly workplace, supports theend
of childlabour and promotes abetter
futurefor childrennationwide.
Thecompany is a proudmodel of
child-friendly business practices for
other publicly listedcompanies. Aside
fromofferingagenerous six-month
maternity leave, the company
resolutely bans any childlabour onall
Sansiri constructionsites. It helps
communities around project sites
throughtemporary classrooms where
children can learn basiclanguage,
arts and maths lessons.
Licensedcoaches arealso ableto
givechildrenfreefootball training
throughSansiri Academy, where
more than4,000 are enrolled in
Bangkok alone. The academy
expandedtoPhuket last year withthe
re-opening of the Tsunami Memorial
Football Centre.
Through theChildrens
CornerstoneFoundation, Sansiri
encourages other business entities to
takepart in social responsibility
projects. One such initiative is the
SustainableLunchprogrammefor
children, throughwhichmicro-farm
projects areorganisedwithinschool
grounds to supply the foodwhile
simultaneously contributinglocal
livelihoodopportunities.
Unicef is very pleased, Apichart
says. Weareasmall company inthe
world, but we aresurely trying very
hardtohelpthe children. Its the
philosophy of Sansiri that as afully
integratedproperty company, we
want tobeNo1intheminds of our
clients insustainability.
As Sansiri is much more thana
real estatedeveloper, its full circleof
performance success shows that it
lives upto thecompany ethos:
Construct alife, not just abuilding.
Sansiri redenes
modern living with
prime properties
Apichart Chutrakul, CEO