CENTRAL MARKETING GETS MALAYSIA'S HCH
Central Marketing Group has made a new venture into the Malaysian market by acquiring HCH, that country's No 1 trading business.
CENTRAL MARKETING GETS MALAYSIA’S HCH
Central Marketing Group has made a new venture into the Malaysian market by acquiring HCH, that country’s No 1 trading business.
Pichai Chirathivat, CEO of Central Marketing Group, announced the takeover of HCH Group, which boasts the most sales in Malaysia’s clothing industry. It owns several well-known brands including John Master for men’s wear, Kiko children’s wear, Schwarzenbach sports gear and equipment, Trudy & Teddy, which specialises in children’s evening wear, and The Club, a premium men’s-wear brand.
CMG hopes to boost HCH Group’s overall sales by 20-30 per cent this year. As a consequence, it is expected that through this acquisition, HCH – which has been renamed Central Marketing Group Malaysia – will experience 10-per-cent growth from last year and will continue to grow steadily each year.
DIGITAL ECONOMY OFFICE
The Information and Communications Technology Ministry has submitted to the Office of the Public Sector Development Commission a plan to establish a “Digital Economy Office”.
ICT Minister Pornchai Rujiprapa said yesterday that if the commission approves the plan, he would forward it for Cabinet consideration.
The office will initially borrow 20 staff from the National Electronics and Computer Technology Centre (Nectec) to work together with ministry staff.
Commerce Ministry, rice traders agree on price benchmark
The Commerce Ministry and rice traders have agreed to set up a benchmark price for paddy hom mali (jasmine) rice of Bt15,000-Bt16,000 a tonne for the upcoming main crop to ensure that farmers do not suffer from low market prices.
After a meeting with rice exporters, millers and farmers, Commerce Minister General Chatchai Sarikulya said the government needed to set up a price recommendation for hom mali rice to create fairness for farmers and prevent the price from dropping.
The government and rice traders will also try to ensure stable prices for white paddy rice, which should not be lower than Bt8,500 a tonne.
The ministry says it will also support more rice exports to targeted markets such as China, Asean and African countries.
SET trade value
rises in September
Trading value on the Stock Exchange of Thailand in September rose 26.8 per cent to Bt58.92 billion from a year earlier.
Market sentiment during the third quarter was upbeat, supported by Thailand’s political stability after a new military-appointed government was formed early last month, while the announcement of an economic stimulus policy and investment helped boost investors’ confidence.
The SET Index ended September at 1,585.67 points, up 22.10 per cent from end-2013 and up 1.54 per cent from August. Foreigners bought a net Bt20.8 billion (US$657 million) worth of Thai shares in September, adding up to $1.16 billion in the third quarter. However, they sold a net $87 million worth in the first nine months.
SE Asian nations to invest in smart grids
Southeast Asian countries will invest US$13.6 billion (Bt442 billion) on smart electrical-grid infrastructure between this year and 2024, according to a new study by Northeast Group, a research and consulting firm based in Washington, DC.
This investment will include smart metering and the modernisation of electricity transmission and distribution networks with sensors, communications and software. By 2024, the largest markets will be Thailand, Indonesia, Malaysia, Singapore, the Philippines and Vietnam, according to the study.
“Smart grid investment over the next decade will shift from North America and Europe to emerging-market regions,” said Ben Gardner, president of Northeast Group.
“Southeast Asian countries are just beginning on the path of modernising their electric infrastructure. Strong GDP growth of nearly 6 per cent through 2018 and corresponding growth in electricity demand will help lay the foundation for investment.
“Electrification programmes and growth in renewable resources will also drive investment.
“Singapore is currently leading the region in development but later in the decade the large markets of Thailand, Indonesia, Malaysia, Vietnam and the Philippines will account for significant smart-grid investment.”
Southeast Asian countries will deploy 37.3 million smart meters between now and 2024, accounting for $8.8 billion in investment. The region will also invest $2.5 billion in distribution automation, or advanced monitoring and control of the distribution network with sensors and communications. Other smart-grid segments will account for an additional $2.2 billion in investment.
Several countries in the region have drafted smart-grid road maps and pilot projects are widespread. Regulatory frameworks are still developing but momentum will grow over the next several years, the report said.
Both utilities and vendors are already working together to ensure preparedness when regulations are finalised.
