At A Glance

TOA Paint (Thailand) finalised the share price of its Initial Public Offering (IPO) at Bt24 per share.
The company is expected to be launched on the Stock Exchange of Thailand on October 10. 
CEO Jatuphat Tangkaravakoon said that the management would do its best to ensure that stock investors would get return on investment as expected.

Ofo unveils new and improved bicycle

Ofo has unveiled a new type of bicycle, which, according to the company, has more than 30 improved features compared with previous models, to compete with its rivals such as Mobike.
The latest model, named “Little Bumblebee”, uses two smart locks based on near-field communication technology and the NB-IoT network.
The new technology allows users to open the locks within seconds by pressing their phones to the device. NB-IoT technology enables the network to have wider coverage and at a faster speed.
Ofo co-founder Xue Ding said, “As a high-tech company, Ofo will continue to develop cutting-edge technology and explore the industry’s best solutions to lead the sharing industry into a new era.”
The start-up has cooperated with BASF SE, a global chemical company, to develop an ultra-light tyre which is more abrasion-resistant. Other improvements include an integrated vacuum saddle and aluminium alloy, meant to provide users with a more comfortable riding experience.
The company also announced that it has successfully developed an intelligent pedelec (pedal-electric bicycle) powered by a lithium battery.
Industry analysts said ofo has developed several new products and technologies covering both the upstream and downstream industry chain, and that it will offer users a new experience and broader prospects for the sharing industry.

SMEs reap rewards of online sales project

The SMEs Go Online project has successfully brought 82,500 products from small and medium-sized enterprises (SMEs) to online sales channels.
The project was co-developed by Office of SMEs Promotion (OSMEP), the Electronic Transactions Development Agency (Public Organisation) or ETDA, Rajamangala University of Technology Thanyaburi (RMUTT), and Suan Sunandha Rajabhat University.
The four parties jointly provided knowledge to SMEs to help them sell their products online. There were 68,000 SMEs with total of 110,000 product items participating in the project. Of these, 82,500 items are already available online.

TRIS affirms SC Asset’s ratings

TRIS Rating has affirmed the company rating and the ratings of senior unsecured debentures of SC Asset Corporation (SC) at BBB+. This reflects SC’s acceptable track record in the middle- to high-end segments of the residential property market, reliable cash flow streams from the rental property segment, and steadily growing revenues. 
These strengths are partially offset by relatively high financial leverage and a small backlog, which might limit revenue in 2017. The ratings also take into consideration the cyclical and competitive nature of the property development industry, plus concerns over the relatively high household debt level, which is a consequence of the current slowdown in the domestic economy. 

Origin Property retains ‘Stable’ outlook

TRIS Rating has affirmed the company rating of Origin Property Plc (ORI) at BBB-, and has replaced ORI’s “developing” credit alert with a “stable” outlook. 
ORI was placed on credit alert with a “developing” implication on May 23 following its May 17 announcement that the board of directors had approved the acquisition of Proud Residence Co. On July 12, ORI’s shareholders also approved the acquisition of Proud. The transaction is expected to be completed this month.
The ratings of ORI reflect the company’s evolving brand recognition in the middle- to low-priced condominium segment, high profit margins, and the increase in the backlog after the acquisition of Proud. 
However, these strengths are partly offset by the company’s limited track record, concentration in just a few product segments and a looming rise in financial leverage brought about by an aggressive expansion plan. The ratings also take into consideration the high level of household debt nationwide, and the cyclical and competitive nature of the residential property industry. 

Symphony launches submarine cable project

Thailand-based international network provider Symphony Communication, in collaboration with leading telecommunication providers in Malaysia (Telekom Malaysia Berhad) and Cambodia (TelcoTech), have jointly launched the 1,300km-long Malaysia-Cambodia-Thailand Submarine Cable System in Thailand. 
The move aims to establishing Thailand as Asean’s telecommunication hub and gateway to the world “so as to spur communications expansions, encourage trade and investment growth, as well as facilitate economic development for Thailand and Asean”, said Symphony president Teerarat Pantarasutra.