Economy May 08, 2014 00:00


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Tunyawat named TUF's first global innovation director

Thai Union Frozen Products (TUF), the world’s leading processor and exporter of canned and frozen seafood products, has appointed Tunyawat Kasemsuwan to the new position of director of Global Innovation, effective May 2.

 He will report directly to the company’s group CEO, Thiraphong Chansiri.

 Tunyawat is a highly experienced scientific officer and global executive with a proven track record of developing and commercialising innovative new products, ingredients and processes by combining his expertise in nutritional science with a passion for satisfying unmet customer and consumer needs, and for driving business growth, the company said.

 He started his career with National Starch and Chemical, Thailand (now Ingredion) in 1995-2001, before joining Mead Johnson Nutrition in 2001 as research and development director, Asia-Pacific.

 During his seven years with Mead Johnson, Tunyawat’s responsibilities were expanded beyond Asia to include significant European and Latin American projects.

 In 2008, he rejoined Ingredion, where he assumed dual management roles as senior director, Technology-Asia Pacific and Global Clinical and Infant Nutrition.

 Thiraphong said the appointment of a global-innovation director represents a strategic move for TUF, which is expanding globally.


Branch expansion boosts earnings at Siam Makro

Siam Makro has announced that its net profit increased by 26 per cent year on year in the first quarter, due to branch expansion and better cost control.

 According to its report to the Stock Exchange of Thailand, the company posted Bt1.27 billion in net profit in the quarter, up 26 per cent compared to the same period last year, but down 3 per cent compared to the final quarter of 2013.

 “Siam Makro reported its net profit for the first quarter of this year, which is 9 per cent higher than our earlier expectation,” said a stock analyst from Tisco Securities. “The growth was driven by the opening of two new stores in the first quarter of this year, as well as 4-per-cent growth in same-store sales.”

 The company also reported Bt35.2 billion in sales in the first quarter, which was stagnant compared to the fourth quarter of last year, but 13 per cent higher on a year-on-year basis.

 “The strong sales performance has been reflected in the stock price. The first-quarter performance accounts for about 24 per cent of Siam Makro’s total performance for the entire year, which is expected to reach about Bt5.2 billion in net profit.

 “We however suggest that shareholders sell Makro’s stock, due to its declining liquidity and share price,” said the analyst.


Media statement on use of BVO in Coca-Cola drinks

Coca-Cola’s Thai unit has realeased the following statement:

 “Regarding news reports on The Coca-Cola Company’s phasing out of the use of brominated vegetable oil (BVO) in beverages sold in the US, the Coca-Cola system in Thailand would like to confirm that this does not affect all our beverages in Thailand, as our beverages DO NOT contain BVO. All the ingredients that we use are in full compliance with the regulations of the Thai Food and Drug Administration, as well as international standards.”


FCA seminar covers ‘omotenashi’ philosophy

Franchise Advantage (FCA), a Japanese consulting company, this month will host its third seminar to educate prospective Thai franchise holders on omotenashi, the Japanese spirit of hospitality.

 The second successful session of its series of Japanese-focused seminars, which was held in February, focused on service chains around the world.

 More than 150 people attended the “Cool Japan” event, hearing presentations from distinguished guests, including Masami Tajima, chief executive of FCA; Chadatip Chutrakul, CEO of Siam Piwat; and Kaino Yasuhiko, president of Farm Designs.

 The guest speakers shared their insights on a wide range of business topics, including how the philosophy of omotenashi can develop the Thai service market and enrich people’s daily lives.

 Chadatip shared her experience of how Japanese service management had affected the retail market, giving a unique look into how retailers should approach the market.

 The next seminar, aimed at middle to top management, will be hosted by Tajima and the Technology Promotion Association (Thailand-Japan), from May 23-24 at the association’s premises.

 Attendees will learn about how to develop human resources, how to improve service to help businesses prosper in a competitive environment, and how to build a strong management team that can execute important business decisions in the workplace.


Trade mission to follow Route 3A to Kunming

The Foreign Trade Department will lead a group of representatives from various industries, including home decorative items, furniture, fruits and vegetables, seasonings, logistics and spa enterprises, on a business mission to Laos and China from May 26-30.

Banjongjitt Angsusingh, deputy director-general of the department, said the trip would explore Route 3A, which links Thailand and China’s Kunming province through Laos.

Enterprises interested in joining the mission should contact the department at 02-547-4732 or fax 02-547-4728.

CFG issuing debentures

Auto refinance provider CFG Services has no plan to list on the stock market even though it is raising funds through the fixed-income market from its first-ever debenture issue.

Piyasak Ukritnukun, managing director of CFG Services, said it had been funded by Bank of Ayudhya, its parent company, which was ready to support it long-term. However, the company wants to access funds from other sources to strengthen its business growth.

CFG is offering three tranches of debentures worth a total of Bt2.5 billion to institutional and major investors. The first tranche has a two year tenor, the three years and the third four years.

These are unsubordinated and unsecured debentures, and interest will be paid every six months.

TRIS Rating assigned CFG’s debentures “A-” with “stable” outlook. Bank of Ayudhya, the parent company of CFG, will be the lead arranger.

Intermach next week

Exhibition organiser UBM and leading machinery manufacturers will hold “Intermach 2014”, an international industrial machinery and subcontracting exhibition, at Bitec in Bang Na from May 15-18.

Sanchai Numbunnam, project group director of UBM Asia Thailand Co, said Intermach would be held in conjunction with “Subcom Thailand 2014”, Asean’s largest industrial subcontracting event.

The events are designed to stimulate Thailand’s manufacturing sector, boost its competitiveness, and prepare Thai manufacturers for both new trends and upcoming changes as the Asean Economic Community nears.

factors in their homeland and fragile economic conditions overseas. Thai manufacturers must look for opportunities and adjust their manufacturing facilities. Sanchai said Thai industries had slowed down during the past year because of many hostile economic

Bayer sales surge in region

Last year was a record-setter for Bayer’s HealthCare Pharmaceuticals division in the Asia-Pacific region. The division’s key markets in the region, including Thailand, contributed to its strong growth rate.

 Global sales of the division increased by 9.4 per cent last year to 11.188 billion euros (Bt504.3 billion), while in the Asia-Pacific region sales grew by 14.9 per cent to 3.016 billion euros, doubling growth over the previous year and making this the fastest-growing region for the division. This was largely attributable to gains posted by recently launched pharmaceutical products.

 Bayer HealthCare Pharmaceuticals was the fastest-growing multinational company in the Asia-Pacific region among the 20 largest multinational pharma companies in the world in 2013, according to IMS data.

 The Bayer group plans to spend more than 11 billion euros on research and development between now and 2016. Nearly two-thirds of the R&D investment is assigned to Bayer HealthCare.

Currently, the pharmaceutical development pipeline is well stocked, with 44 development compounds in Phase 1-3 of clinical testing. The company plans five new drug candidates to be progressed into Phase 3 clinical development by next year. These new compounds in cardiology, anaemia, oncology and gynaecology therapies will have the potential to tackle various difficult-to-treat diseases prevalent in Asian populations.

Amway fights allergies

Amway is intensifying its business in health products with its Atmosphere air-treatment system amid rising prevalence of nasal allergies.

The company unveiled past success of its air treatment as the best-selling brand of residential air-treatment systems in Thailand and worldwide for three consecutive years and also expressed confidence that it could defend this top-ranking position with a market share of 44 per cent this year.

Ratana Channara, marketing director of Amway (Thailand), said more Thai consumers were progressing from healthy diet and exercise to many other areas of personal healthcare. Among them, home air quality has become a highly prioritised concern amid growing prevalence of allergies in Thailand due to increased existence of dust particles and other pollutants in the atmosphere as well as interior environments that are favourable for growth of allergen-producing dust mites, especially air-conditioned and carpeted home spaces with poor ventilation.

The Allergy, Asthma, and Immunology Society of Thailand has estimated that there are more than 18 million allergy sufferers in Thailand, of whom more than 10 million have nasal allergies, which lower their quality of life. Using a high-quality air-treatment system at home is therefore becoming more and more popular, and the market for such systems grew by 4 per cent to Bt2.3 billion last year.

Aeon joins Money Expo

Aeon Thana Sinsap (Thailand), a financial-services company, is participating in the 14th “Money Expo Bangkok” from today through Sunday at Impact Muang Thong Thani.

This year Aeon introduces “Aeon Bridge Connecting Life” giving customers the opportunity to apply automatically for various financial services, including Aeon loan services, Aeon Your Cash, and Advanced Withdrawal.

Additionally, customers are able to apply for credit-card services including Aeon Royal Orchid Plus Platinum Card, Aeon Gold Card, Aeon Classic card and Credit Card Online Registration.

Customers applying for instalment payments for Honda motorcycles will be able to take advantage of a special interest rate of 0.79 per cent per month (for a maximum of 48 months) as well as receiving a MaxValu gift voucher worth Bt500.

During Money Expo 2014, Aeon insurance services are offering a special zero-interest 10-month payment plan, and each customer who shows a driver’s license or car key gets a free iDog – a robot dog toy – valued at Bt490.