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Economy January 29, 2014 00:00

By The Nation

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Thai Samsung Life names new CEO

Thai Samsung Life Insurance has appointed Ik Jae Han as chief executive officer to drive three important policies and promoted Banyong Narasavat to deputy CEO.

The appointments will be formalised at an upcoming board meeting.

TSLI is hoping for sustainable growth by developing its manpower and internal structure. The agency channel continues to be handled by Banyong, who plans on enlarging TSLI’s sales force.

Han, who has been working with Samsung Life Insurance for 30 years, guarantees that Samsung Life will continue its full support of the Thai unit.

“I believe that with everybody’s best efforts under new directions, this year total [first-year premiums] can reach 30-per-cent growth, which means individual life growth of 40 per cent and other channels 110 per cent. And we will start making profits in 2017,” Han said yesterday.

Draft standards for 4G

The telecom committee will on February 12 submit for the National Broadcasting and Telecommunications Commission’s consideration the draft technical standards for fourth-generation mobile devices and 4G cellular network base stations.

The committee plans to auction the 1,800-megahertz band of Digital Phone Co (DPC) and TrueMove to offer 4G service late this year after their concessions expired last September.

However, TrueMove still had about 11 million subscribers and DPC 19,000 remaining in their networks as of last month.

AGE plans holding company

Asia Green Energy’s board has approved the setting up of AGE Power Holding Co with registered capital of Bt30 million as a holding company to expand investment in the power-plant and alternative-energy businesses.

The company’s board also gave its approval for AGE Power Holding Co to acquire a 90-per-cent stake in A Engineering Consultant Co, which has registered capital of Bt30 million.

A Engineering Consultant Co generates and distributes biogas and biomass energy in Sukhothai, AGE managing director Panom Kuansataporn said in a filing to the Stock Exchange of Thailand yesterday.

Paper pulp from palm waste

Pulp Green Tech Holding, a company focused on research and development that owns Thai Gorilla Pulp, says it has successfully achieved a high-grade quality paper pulp made of 100-per-cent palm-oil waste material – the empty fruit bunch.

The technology is highly cost-efficient, and it could see investors, palm-oil producers and paper pulp mills achieve return on investment of more than 100 per cent in the first year of operation, assuming the pulp is sold at the price of comparable non-wood materials.

Through Thai Gorilla Pulp, it sells the palm pulp, or the end product made of palm pulp, to Europe, Malaysia and locally in Thailand.

More than 95 per cent, or an estimate 300 million tonnes or more, of raw-material empty fruit bunches are disposed of annually, said Ryosuke Tanaka, CEO of Thai Gorilla Pulp.

PGT is aiming to expand its technology to Malaysia and Indonesia in the coming 12 months, and is also preparing to form a partnership with paper mills and palm-oil producers in the region.