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SET awards for firms of social responsibility
Thailand's Corporate Social Responsibility Institute (CSRI), under The Stock Exchange of Thailand (SET), will hold its second CSRI Recognition award-presenation ceremony on November 11 to honor and inspire Thai-listed companies committed to operating with social responsibility and are good role models of sustainable businesses. The event will be held at the SET building on Rachadapisek road.
SET President Charamporn Jotikasthira noted that the Thai capital market was among the best in Southeast Asia, adding that a key part of SET's long-term plan was to further enhance its quality by encouraging companies to balance business with environmental, societal, and governance considerations for the firms and society to grow stronger together.
CSRI Recognition 2013 will highlight outstanding companies in CSR in the categories of Most Improved CSR and Rising Star.
The judging process is similar to that used for the SET Awards in which the judges consider input from surveys, presentations, and interviews. CSRI's survey covers environmental, social, and governance issues in accordance with international practice. CSRI plans to use the survey as a tool to evaluate companies seeking to become components of the SET Sustainability Index in the near future.
Budget carriers thrive in third quarter
Low-cost carriers reported a surge in profitability in the third quarter of this year, according to a report from the Stock Exchange of Thailand (SET).
Asia Aviation (AAV) posted Bt158.35 million in net profit in the third quarter of this year, up 58.64 per cent from Bt99.82 million for the same quarter last year. The company also reported Bt820.6 million in net profit in the first nine months of this year.
Meanwhile, Nok Air reported Bt244.60 million in net profit in the third quarter of this year, up 16.20 per cent from Bt210.5 million reported for same quarter last year. The company also earned Bt920.58 million in net profit in the first nine months of this year, up 178.93 per cent compared to the same period last year.
Asia Pacific tops travel markets world-wide
Asia Pacific has surged past Europe to become the world's largest regional travel market in 2012, with US$326 billion in gross travel bookings, according to a report from PhoCusWright. Despite economic uncertainty in some APAC markets, PhoCusWright projects 8 per cent growth for the APAC travel market through 2015.
In another significant sign of the rapid changes taking place across APAC, Japan has ceded its position to China as the largest APAC travel market. With double-digit gains through the forecast period, China will account for nearly a third of the regional travel market by 2015.
"Not only is China the largest APAC market, it is now the second-largest travel market worldwide, exceeded in gross travel bookings only by the US," says PhoCusWright research analyst Chetan Kapoor. "Yet the Chinese traveller population is more than double that in the US and it is the only major market projected to sustain double-digit growth through 2015, making it the market to watch."
While the vast majority of APAC's travel bookings are still made offline, the region's online travel penetration is expected to jump from 24 per cent in 2012 to 31 per cent by 2015. The explosive popularity of web-enabled mobile devices is a significant driver of online travel growth across the region.
Banks lauded for fraud response
The Bank of Thailand has complimented commercial banks for their prompt action following recent thefts from ATMs by foreign criminals using illegally attached skimming devices.
They also won praise from the BOT for their responsive actions to assist and compensate bank clients who were victims of the fraud in a prompt and fair manner, as well as their promptly informing and warning customers and the general public via various media channels about the scam and the need to exercise caution when using ATMs.
It is, therefore, not necessary for the central bank to intervene in the banks’ operations at the current time, said Krirk Vanikkul, the deputy governor for Financial Institutions Stability.
He said the BOT should intervene only in the following cases: to minimise the risk of data theft; when the central bank’s intervention could improve the effectiveness of commercial banks’ preventive measures; and if its intervention would improve care for consumers and banks’ clients.
Software market to slow
The Thai market for software products and services is expected to be Bt39.1 billion this year, up 22 per cent year on year, with 12.6-per-cent growth forecast for next year, the Thailand Development Research Institute said yesterday.
TDRI president Somkiat Tangkitvanit said the lower growth forecast for next year was in line with the country’s expected slowing economy, which could dent the growth of software for the manufacturing sector. However, he added that the 2014 figure was just a preliminary forecast, and the situation would become clearer in the first and second quarters.
He stressed that the overall picture for the software market was for continued double-digit expansion, which indicated a bright future.
One problem faced by the sector is the lack of skilled human resources, he warned.
Escartstudio keen to explore Asean market
Escartstudio is keen to tap Asean markets as well as look for local business partners in the region to support its marketing of services and products.
The company, a Loxley subsidiary, engages in consulting and professional design and development for Web-based applications and complete enterprise location-based application system.
Tachpong Hotrabhavananda, CEO of Ecartstudio, said the software market has a bright future because Thai software is now better recognised. Public agencies also support the industry by organising competitions and providing funds for research and development of new products. This support helps increase the competitiveness of Thai software companies and be ready for the Asean Economic Community, which offers a bigger market but would also bring more competition. The company has spent between Bt10 million to Bt15 million every year in research and development. This year, the company is expecting sales income of around Bt80 million, and is targeting a 30-50-per-cent growth next year.
Middle-class participation in rallies sparks retail fear
The people’s rallies to oppose the government-sponsored amnesty bill, if prolonged, will impact negatively on the local retail industry, according to former president of the Thai Retailers Association Likit Fahpyochon.
He said such demonstrations would have an psychological impact on the middle-class with strong purchasing power as some of them have joined the rallies, which are held not only in Bangkok, but also in particular provinces and tourism destinations such as Pattaya, Samui, and Phuket.
"It is quite different from 2010 when the protest occurred only in Bangkok. Now, people are not in the mood for shopping. The protests have now spread to many areas, such as Silom, Asoke, Erawan, and Ratchadamnoen. The number of protestors are higher than those in 2010 with most of them middle-class people with high purchasing power," said Likit.
Thailand , 13 others join pact on Dry Ports
Thailand and 13 countries yesterday signed the Intergovernment Agreement on Dry Ports, to underscore their pledge towards achieving the shared vision of an integrated and sustainable intermodal transport and logistics system.
At the signing ceremony for the agreement, Thailand went one step further by becoming the first party to the agreement through ratification, thereby initialising the process by which the agreement will enter into force. The agreement will enter into force after eight countries have become parties. The agreement will be open for signature until December 31, 2014 at United Nations Headquarters in New York.
The agreement, signed on the sideline of the Forum of Asian Ministers of Transport held in Bangkok during November 7-8, builds on the intergovernmental agreements of the Asian Highway and Trans-Asian Railway networks, built through the ESCAP platform. The agreement aims to promote international recognition of dry ports, facilitating investment in dry port infrastructure, among others.
