Briefs

Siam Commercial Bank CEO Arthid Nanthawithaya admitted yesterday that SCB had appointed a foreign financial adviser, but insisted this was only to explore how to strengthen SCB Life Assurance, and not to help the bank unload its stake in the life-insurance unit as has been speculated by the market.

He said the limits on investment by life insurers were posing a challenge for the bank, so this appointment was meant to find ways to serve its clients best.

 

SPORT EVENTS DRIVING TV SALES

 

The market for television sets is anticipated to grow in value by at least 3 per cent this year, driven mainly by two global sporting events, the Uefa Euro 2016 tournament beginning this month and the Summer Olympics in August.

Assawin Chusatapornkul, senior audio-video business manager for Thai Samsung Electronics Co, said consumers looking for a new TV were shopping for larger screens and optimal image quality.

“A large number of TV viewers love to stream HD [high definition] content or movies on their TVs, so consumers today prefer to choose TVs with the finest picture quality and features, ensuring a perfect viewing experience,” he said.

“On our expectations for the television market in Thailand, we would like to see at least a 3-per-cent increase in market value this year, rising from Bt28.6 billion last year to Bt29.5 billion,” he said. 

Assawin said ultra-high-definition television (UHD TV) would be the fastest-growing category, estimating a 148-per-cent increase in sales value this year. The contribution of UHD TV to the overall market will increase significantly from 13 per cent posted last year to 30 per cent.

Customers who understand the advantages of curved-screen UHD TVs should drive the overall market value for this specific type by 132 per cent.

 

ASIAN, EUROPEAN |MINISTERS MEET

 

Asian and European finance ministers will gather in Mongolia to discuss the economic situation, strengthen ties for regional finance and promote trade between the two regions.

Krisada Chinavicharana, director-general of Thailand’s Fiscal Policy Office, said yesterday that Deputy Finance Minister Wisudhi Srisuphan would lead an official team to the Asia-Europe Finance Ministers’ Meeting tomorrow in Ulaanbaatar. 

The meeting will also include the Asean secretary-general, European Commission members and representatives from international organisations. 

This year’s theme is “Partnership for Prosperous Connectivity between Asia and Europe”. 

Discussions will be held on the arrangement to strengthen cooperation in the financial industry for the two continents, and trade and investment connectivity. 

Other topics are investment in infrastructure, support of private investment, and promotion of small and medium-sized |enterprises.

 

Start-up speakers at event tomorrow

 Principals of some of the region’s most dynamic start-ups will speak at an event tomorrow hosted by the Wharton Club of Thailand.

The speakers are John Brown from Agoda, Krating Poonpol from 500 Startups, Aung Kyaw Moe from 2C2P, and Tarin Thaniyavarn from Lazada.

Members of the public are welcome, said Dr Vorapol Socatiyanarak, president of the Wharton Club of Thailand. 

The event will take place at the Long Table restaurant, 25th floor, Column Tower, Sukhumvit Soi 16. Tickets are Bt1,000 in advance and Bt1,500 at the door. 

 

 

 Banks ink deal with Yokohama IDEC

 Krungsri (Bank of Ayudhya) yesterday signed an agreement with the Bank of Tokyo-Mitsubishi UFJ (BTMU) and Yokohama Industrial Development Corporation (Yokohama IDEC) aimed at enhancing collaboration on border trade and investment activities for enterprises from Thailand and Yokohama.

“Yokohama is one of the busiest international trading hubs in Japan,” said Masaaki Suzuki, Krungsri head of banking for Japanese and multinational corporations. 

“About 3,500 IT-related companies are located in the area. Also, Yokohama is home to automotive and biotechnology industries [that] the government of Thailand has identified as targeted industrial clusters. 

“The agreement among Krungsri, BTMU and Yokohama IDEC will benefit Thai and Japanese enterprises in generating and expanding business opportunities. Krungsri and BTMU will act as connector and facilitator connecting Thai and Japan businesses as well as providing in-depth advice on business prospects and activities overseas.

“The agreement is our concrete execution under Krungsri’s business strategies to support cross-border transaction activities. The bank acts as an adviser to support Thai companies in accomplishing their outbound trade and investment goals. 

The bank will arrange a seminar in Yokohama later this month to disseminate information on Thailand and organise a business matching fair in the fourth quarter to promote trade and investment between the two economies.” 

 

 FWD Life opens first Northeast academy in Khon Kaen 

 FWD Life Insurance Public Company Limited (“FWD”) yesterday opened its first Northeast Distribution Academy in Khon Kaen province after this region showed the outstanding growth in both annualized premium from all channels and number of agency force. 

Currently FWD has 2,000 agents in northeast region representing 42% of the total agents across the country. Meanwhile, FWD has moved its FWD branch in Khon Kaen to the same area of Khonkaen Academy as well.

Nicholas Osborne, Chief Distribution Academy Officer of FWD Thailand said that the opening of Distribution Training Academy is one of FWD strategic plan to develop people to be professionals.

Khonkaen Academy will mirror both facilities and the training program the company currently offers in FWD Academy in Bangkok, including the management programmes to ensure that pre-managers can step up to management level with confident and able to recruit, supervise and manage their teams efficiency. 

For the reason FWD select to build its Distribution Academy in Khon Kaen, Nicholas said, “The amazing tied agency growth story in Northeast. The number of tied agency grew dramatically to currently almost 2,000 . The agents in this region accounted 42% of the total agents countrywide. The reason FWD select Khonkaen provice for our first Distribution Training Academy as Khon Kaen province is the capital of the northeast and it is a logistic and transportation hub of the region.”

Khonkaen Academy was located on 286 Moo 12, T. Muangkhao, Muang Khonkaen, Khonkaen, 40000 . To facilitate agents the one-stop service center, FWD decided to move FWD Office in Khonkaen to this area too.