HUAWEI SURGES AHEAD

Tossaporn Nisthanon, Deputy Country Director of Huawei Consumer Business Group (Thailand), yesterday said the company’s performance here was equally robust, with shipments increasing eight-fold from the same period last year while sales surged by five-fold, bringing its market share up to 10.7 per cent as of May 2017, from 1.2 per cent in the same period last year.   
Huawei has 15 R&D centres and 36 joint innovation centres worldwide. Huawei allocates 10 per cent of its annual sales on technology development annually , with a total of $45 billion spent on R&D activities in the past 10 years. It now boasts more than 42,300 retail stores worldwide. 
The company has 41 shops in Thailand and 14 customer service centres, with more than 1,000 collection points, as well as door-to-door service.
Huawei also announced that it had appointed James Wu as president of its operations in Southeast Asia. 
 He joined Huawei in 2003 and has held several senior positions within the company.
Huawei’s Southeast Asia headquarters is located in Bangkok . It oversees and supports the company’s activitie in 11 markets: Thailand, India, Vietnam, Myanmar, Laos, Cambodia, Bangladesh, Nepal, Sri Lanka, Hong Kong and Macau.

SEC HOLDS HEARING 

Securities and Exchange Commission (SEC) is conducting a public hearing on the amendment of criteria for issuance of debentures and bills of exchange and intermediary roles. The hearing will run until August 30.
Rapee Sucharitakul, SEC secretary-general, said: “The SEC intends to listen to comments on a broad level in order to make sure that the guidelines for the criteria amendment will be most appropriate and efficient.” 
The amendment is expected to take effect in the fourth quarter of this year.
After the discussions among the public and private sectors, and related associations in the capital markets, the amendment will provide more proper protection for each type of investors and sufficiency for need of capital raisers. 
Standards for intermediary roles will be also enhanced with control system and due diligence process for investors and issuers.
The move came after businesses issued a lot of bills of exchange, which, unlike debentures, does not contain mechanism to protect investors, particularly for high net worth investors who usually crave for returns regardless of investment risks.
The public hearing is being held online at the SEC website www.sec.or.th/hearing.