Kasikornbank and Advanced Wireless Network Company Limited of Advanced Info Service have signed a memorandum of understanding (MoU) on cooperation in the “Smart Hospital and Healthcare” project.
Under this MOU, both parties will collaborate in planning technology and innovation developments for various hospital business groups, including digital-based financial innovation and a platform linking all services of participating hospitals, so as to help enhance their service efficiency. This cooperation is aimed at steering the Thai medical and public health industry toward the Healthcare 4.0 era.
MEDCO PLAST DEAL
IVL looks to PET market in East Africa
Indorama Ventures (IVL) has completed the acquisition of 74 per cent of the share capital of Medco Plast for Packing and Packaging Systems SAE (Medco Plast) from Middle East Glass Manufacturing Co (MEG) and the Samaha family.
MEG will retain a 16-per-cent shareholding in Medco Plast, and the Samaha family 10 per cent.
Medco Plast is the largest manufacturer of recyclable PET preforms, injection moulded products, and closures for all the multinational soft drink and water manufacturers operating in Egypt, with a 25-per-cent market share. Medco Plast currently has 11 state-of-the-art production lines with a combined annual production capacity of 70,000 tonnes of PET preforms.
Egypt is one of the most developed and diversified economies in the Middle East, with economic growth of about 5 per cent. This acquisition will give Indorama Ventures exposure to the East African PET packaging market, complementing its existing footprint in West Africa, where the company has a presence in Nigeria and Ghana.
Indorama Ventures will bring best-in-class know-how capabilities as well as supply chain economies to further enhance Medco Plast’s leadership position and grow it into the leading regional player, according to an IVL press release yesterday.
Semen Indonesia largest in Asean after acquisition
Indonesia’s state-owned cement producer PT Semen Indonesia (SI) president director Hendi Prio Santoso says the company will be able to produce 53 million tonnes of cement following its acquisition of PT Holcim Indonesia.
“Semen Indonesia alone controls 40 per cent of the cement market in Indonesia, while Holcim controls 15 per cent of the market. It means that we will control 55 per cent of the domestic market,” he said as reported by kontan.co.id yesterday.
Hendi said the company had anticipated an increase in the demand for cement ahead of the acquisition.
SI announced on Tuesday it had taken over 6.18 billion shares of Holcim, 80.6 per cent of the company’s shares in a US$916 million (Bt30 billion) transaction. The acquisition was held by PT Semen Indonesia Industri Bangunan, a subsidiary of SI.
SI corporate secretary Agung Wiharto said there were 15 cement producers in the country with total installed capacity of 107 million tonnes, while domestic consumption had reached 66.5 million tonnes.
Market demand increased to 70 million tonnes in 2017, meaning that the gap had reached 37 million tonnes, he added.
Agung estimated that supply and demand would balance out in 2027, with an estimation of 7 per cent annual demand growth. He added that SI sales had grown 5 per cent from January to September, while the company’s capacity utilisation had reached 90 per cent.
“Without any additional capacity, Semen Indonesia could do nothing to fulfil the increase in market demand,” Agung added. – The Jakarta Post
TECH FOR CLIENTS
Deutsche Bank opens first Asia-Pacific lab
Deutsche Bank yesterday launched its first Asia-Pacific innovation lab in Singapore, and will develop ideas with start-ups for its wealth management business.
The German bank declined to disclose an investment figure for the Singapore lab.
The bank said its innovation labs are part of its drive to digitalise and embrace emerging technologies for the benefit of clients.
For its Singapore lab, finding the best start-up opportunities across the Asia Pacific to scale globally across the bank’s platform will be a key objective, said Deutsche Bank. It added that Singapore’s addition to the platform would ensure that the innovation needs of the bank’s Asia Pacific businesses are plugged into its global innovation platform.
The bank has other innovation labs in Berlin, London, New York and Palo Alto. Singapore’s innovation lab is the first of the labs at Deutsche Bank to be housed within the bank itself. The Straits Times
Thai wins Best of Gold award
Thai cake designer Lippakorn Preeyapabulakit has won the Best of Gold award at Cake International 2018 in Birmingham, Britain for his design concept of The Spirit of Thailand and The Divine Mother.
His entry to the contest was sponsored by Thai Rungruang Sugar, the manufacturer of Lin sugar and Thailand's first fondant product.
The Cake International 2018 held on 2-4 November.