Thailand - Banks stock up on cash

Bangkok Bank today (December 24) said it has prepared more than Bt30 billion in cash reserves at 10,000 ATMs nationwide to serve customers during the New Year holiday.

Digital and online services such as Bualuang Phone 1333 and 0-2645-5555, Bualuang iBanking, Bualuang mBanking and QR Code payment would also be fully operational and the bank’s 300 micro branches in shopping malls will be open for business every day during the holiday. 

The bank will be open on Monday December 30 and resume normal operations on Thursday January 2.

CIMB Thai Bank has prepared cash reserves of Bt250 million at its ATMs and branches.

Kasikonrbank plans to allocate cash reserves worth Bt45.8 billion for KBank branches and K-ATMs during the holidays. 

Of that total, Bt11.8 billion is for branches nationwide, including Bt4.5 billion for branches in Bangkok and the remaining Bt7.3 billion for those in other provinces. 

Currently, KBank has a total of 900 branches nationwide. 

A total of Bt34.0 billion is reserved for over 8,200 K-ATMs across the country, Bt15.0 billion of which for K-ATMs in Bangkok and the remaining Bt19.0 billion for K-ATMs in other provinces.

Siam Commercial Bank (SCB) has earmarked a cash reserve of Bt63 billion of which Bt42 billion is for ATMs and Bt21 billion for branches. 

As of November this year SCB had 698 branches and 9,373 ATMs nationwide.

Source - TheNation

#Bangkok - “Walking Street @Silom” New destination in Town

Brand New city market “Walking Street @Silom” opens up (15 December 2019) welcoming visitors to the brand new destination in town every 3rd Sunday of the month from 12.00 to 22.00.

Right from lunchtime, big crowds of locals and tourists have joined in the grand opening by shopping for goods and tasting cool dishes along the famous Silom road.

The stalls line both sides of Silom road under the BTS Skytrain elevated rails to give some shade from the bright sun.

Over 300 businesses have joined the walking street with 70% being food stalls including classic Thai food and trendy options including drinks and desserts to end a perfect meal.

Visitors can also shop home products including handmade goods, OTOP (One Tambon, One Product) goods, clothes, and other goods. There are also street performers who will be a part of the experience of Walking Street @Silom.

There is a stage in the middle of the street with various shows such as a Thai Dance show. The Prime Minister of Thailand Prayut Chan-o-cha went on the stage to officially open Walking Street @Silom up for business.

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The main concept behind the event is to “Walk, Eat, Taste, and Explore”. The new walking street will promote tourism in the area along with boosting the economy in the area. The Bangkok Governor Aswin Kwanmuang joined in the grand opening celebration.

The Prime Minister stated in his ceremonial speech that tourists visit Thailand because of the beautiful nature, delicious food that is good and cheap, and Thai Smile.

The Thai people need to keep these good qualities by continuing to smile and to have peace along with efficiency and safety.

The government wants to increase tourism, but safety and stability must come first. The government can’t approve every project because there is a budget.

The Prime Minister touched on a few other topics before ending with a statement that the people must become one, the Thai’s must stand solo and to not let any person destroy

 

Source - Pattayaone News

Thai Airways to Cancel 6 Routes to 4 ASEAN Nations, including Laos

Thai Airways International is looking into cancelling six fight routes to four Southeast Asian nations, namely Cambodia, Vietnam, Myanmar and Laos.

These routes, which all emanate from Bangkok’s Suvarnabhumi Airport, are to Phnom Penh, Hanoi, Ho Chi Minh, Yangon, Vientiane and Luang Prabang, The Nation reported.

The Nation quoted Sumeth Damrongchaitham, President of Thai Airways as saying that these routes are all covered by a small number of flights and have low customer capacity.

Mr Sumeth added, however, Thai Airways will assign Thai Smile Airways to cover these routes instead once the cancellation plan is finalized.

The company’s decision comes amid fierce competition as airliners reduce prices stay ahead of its rivals, according to Mr Sumeth.

He added that the company will focus on rolling out promotional campaigns until year-end while adjusting its strategies to preserve its reservation rate, although next year’s strategy remains to be seen.

“Our prices this year have been reduced to a record low, and if this strategy doesn’t work, we may take a different direction, such as seeking more partners for organization tickets, increasing online channels, or giving privileges to frequent fliers,” said Mr Sumeth, as quoted by The Nation.

The company has a total debt of over THB 2.45 billion (USD80.9 million) and losses of more than THB 20 billion (USD661 million), despite being able to reduce its debts by THB 48 billion (USD1.58 billion) over the past five years, according to The Nation.

Source - The Laotian Times

EABC RECOMMENDS REMOVING TM.30 COMPLETELY

More industry and NGO groups are lining up with criticism or calls for abolishment of the embattled TM30 and TM28 immigration forms. Most of the criticisms focus on the draconian nature of the forms, confusion around interpretation and the problems with inconsistent implementation.

Trade and commerce organisations are saying it flies in the face of the government’s wishes for Thailand to be a place to invest in and conduct business.

Now, the European Association of Business and Commerce is recommending to the Thai government to completely do away with the TM30.

“And, as an immediate step towards achieving that, remove from its scope many categories of foreigners.”

They say the same applies to the related TM28 form as well.
 
“The TM30 process has been in the news due to its inconvenience, questions about its value and usefulness, the questions it raises about commitment to ‘ease of doing business’ and the recent, almost inexplicable crackdown via an old law much of which has been dormant for decades.”

“The TM30 form and process in effect requires landlords to report on the location and movement of foreigners who are their tenants. Hotels have the same obligation but for foreign tourists staying in hotels, it is not noticed by those tourists as the hotel uses the TM6 arrival card information from their foreign guests.”

“Section 38 of the Immigration Act (which is the basis of TM30) has been around since 1979, but was not enforced until since late March 2019. It is being enforced inconsistently with various local interpretations. TM.28 (supported by s. 37 of the Immigration Act) is an often overlapping obligation on foreigners to report.”

The submission has been made to Dr. Kobsak Pootrakool, Deputy Secretary‐General to the Prime Minister for Political Affairs.

Source - EABC and The Thaiger

#Cambodia - Ministry proposes aviation association

Phnom Phen International Airport 

The Ministry of Tourism on Wednesday proposed the creation of an aviation association in a meeting with the State Secretariat of Civil Aviation and five airlines.

Tourism Minister Thong Khon said having an association for the industry will facilitate dialogue among all actors and help them find solutions to the challenges the industry faces.

“The association will play a significant role in finding solutions and will help the industry develop smoothly,” the minister said during the meeting, which included representatives of the national flag carrier, Cambodia Angkor Air.

Flight delays and cancellations, problems that beset the local aviation industry, were also discussed in the meeting.

Ministry spokesperson Top Sopheak told Khmer Times yesterday that the ministry’s proposal has had a positive reception among players in the industry.

“SSCA will look into the possibility of forming the association,” he said.

SSCA’s spokesperson Sin Chan Sereyvutha could not be reached for comment yesterday.

According to SSCA, the Kingdom’s three international airports handled 29,705 flights in the first six months of the year.

Source - Khmer Times

Bars and clubs in #Thailand open until 4.00am? Not everyone is in favour

Some academics oppose the Tourism and Sports Minister’s idea to allow entertainment venues to remain open until 4.00am.

Udomsak Saengow of the Centre for Alcohol Studies is one of those suggesting that more research is needed before such a move.

“Civic groups have worked hard to limit access to alcohol and they succeeded in lobbying for shortening the closing times from 4am to 2am. When opening times are extended, drinking hours are also extended. The more people drink, the less they can control themselves.”

But Tourism and Sports Minister Phiphat Ratchakitprakarn argues that extended opening hours would boost the economy and the Tourism Authority of Thailand (TAT) agrees.

TAT governor Yuthasak Supasorn says extending opening times would increase spending, particularly when some foreign visitors find that a closing time of 2.00am is too early. He also stresses that the new opening hours would not apply everywhere.

“The 4am closing time would be restricted to destinations which mainly cater to foreign visitors.”

But coordinator of Alcohol Watch Network, Chuwit Chantaros, disagrees that the move would help the economy, arguing that it may lead to an increase in injuries or deaths among drunk tourists. Such an increase would only end up costing businesses.

“We have research findings showing that we lose 2 baht for every one baht we gain because of property losses as well as deaths and injuries which cause further material losses. If the operating hours are extended, more losses are anticipated.”

But Weerawich Kruasombat, head of the Patong entertainment business operators’ union, is in favour of the move.

“For years, we have been pushing for extended closing times in the Patong and Bang La areas. These districts currently generate 20-30 million baht in income per night and the extra two hours will boost income by 30%-40%.”

The debate rages on, with interested parties in the relevant tourist areas planning to meet with the TAT to discuss the matter further.

Source - The Thaiger

Three #Cambodian cities chosen for Asean urban planning scheme

Phnom Penh, Battambang, and Siem Reap have been included in the Asean Smart Cities Network, and will benefit from the assistance of the Japanese government in creating technologically advanced urban spaces.

The Asean Smart Cities Network (ASCN) is a collaborative platform where cities from Asean member states work towards the common goal of smart and sustainable urban development. The project is supported by the Japanese government.

The chosen Cambodian cities will benefit from Japanese investment into modern facilities to improve the lives of their citizens, according to representatives of the Japanese government who yesterday attended the first meeting of the ‘Public-Private Platform for Urban Development between Cambodia and Japan’.

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The forum – attended by 58 Japanese delegates and companies as well Cambodian officials and members of the private sector – served to introduce ASCN to local authorities and companies.

Yuki Fumihiko, Japan’s Vice Minister of Land, said that given Cambodia’s rapid development, careful urban planning must be prioritised.

He said the ‘Public-Private Platform for Urban Development between Cambodia and Japan’ will allow Cambodia and Japan to keep an open line of communication to discuss urban development.

Ozawa Kazuo, counsellor for global strategies at Japan’s Ministry of Land, said ASCN allows the region to benefit from Japan’s experience in urban planning.

“Our goal is to help Cambodia and Asean avoid the same mistakes that we made in the past in urban development.

“We want to create smart cities that use modern technologies to tackle planning, development, management and operation issues.

“The ultimate goal is to create better spaces for future generations so that they can live comfortably and sustainably in urban spaces,” he said, adding that the programme focuses on key issues like traffic, green spaces, energy efficiency, and recycling systems, among others.

“Today we seek your support and cooperation to bring what we have already achieved in other countries to Cambodia. Together we can make this project a success,” he told his audience.

Chea Sophara, the Cambodian Minister of Land Management, said, “The platform today seeks to boost investment opportunities in urban development for Japanese businesses, including residential, commercial, and industrial buildings, as well as infrastructure.

“This first platform is a very good initiative and shows the confidence Japanese investors have in Cambodia. I believe this programme will further strengthen the relationship between our nations.

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“The ministry is ready to support Japanese investors who want to participate in the programme. The government supports this initiative of the Japanese government which will benefit Phnom Penh, Siem Reap, and Battambang,” he added.

Mr Fumihiko invited all Cambodian officials and businesspeople at the event to participate in ASCN’s next high-level meeting, which will take place in Tokyo in October.

Source - Khmer Times

#Cambodia - Thailand’s Big C to build ‘supercentre’ in Poipet city

Big C, a grocery and general merchandising retailer headquartered in Bangkok, will invest $6.8 million to build a store in Banteay Meanchey’s Poipet city, in the border with Thailand.

The ‘supercentre’, approved by the Council for Development of Cambodia (CDC) on Feb 20, will be located in Spean I village and, according to the company, will create more than 1,200 jobs.

Oum Reatrey, deputy governor of Banteay Meanchey province, told Khmer Times he did not have prior knowledge of the project but said it will help promote trade between the two countries.

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In October, the government also greenlighted the construction of an airport in Poipet city to tackle the rising number of tourists to the country. The project is expected to cost from $40 to $50 million and it will occupy 100 hectares.

Cambodian and Thai leaders have pledged to reach $15 billion in bilateral trade by 2020. During the first nine months of last year, trade exchanges between the two countries were worth $7 billion, exceeding figures for the entire year of 2017.

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Source - Khmer Times

Aircraft manufacturers looks to Southeast Asia

Boeing Co. of the United States and other major international aircraft makers are moving to build manufacturing bases in Southeast Asia. 

Thailand and Malaysia are eager to attract industries from overseas, in the hope of developing their economies. This is presenting opportunities for small and midsized Japanese companies that manufacture airplane parts or provide other services to start operations in the region. 

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On-site inspection

Representatives of 30 small and midsized companies from Japan gathered in Bangkok on Feb. 12 to explore the possibility of starting business there. They listened to Thai government officials discuss investment plans and inspected local companies. 

“There are issues with the infrastructure environment and other things, but we hope to incorporate the vigor of this growth market,” said Tomaru Nakamura, managing director of Kyoto-based Asahi Kinzoku Kogyo Inc., which provides such services as special surface processing for airplane parts.

Thailand is planning to build a base for the maintenance, repair and overhaul (MRO) of aircraft in a special economic zone. Demand for MRO services is growing due to an increase in the number of airplanes flying in the region.

Europe’s Airbus has already decided to start operations in the zone, with Boeing Co., Rolls-Royce of Britain and other companies also considering investments there. 

The Thai government hopes Japanese companies will help set up a center for the aircraft industry the way they did for the auto industry, a factor contributing to Thailand’s economic development. 

“The Japanese automobile makers who started business in Southeast Asia before others led the growth of auto manufacturing there,” said a vice secretary general in charge of special zone projects. “In aircraft manufacturing as well, we want to learn from Japan’s advanced technological skills, its ability to train personnel who maintain quality levels and other attributes.”

Topping N. America, Europe

The volume of airline passenger transportation in the Asia-Pacific region surpassed that in North America and Europe in 2017, according to the Japan Aircraft Development Corporation. Airbus and others believe about 40,000 airplanes will be needed in the next 20 years, most of which will be supplied to the Asia-Pacific region. 

While this could be a boon for parts makers, airplane parts must comply with strict safety standards. The need to obtain safety certifications for all parts is a major barrier to entry. 

Japanese companies hope to meet these demands by quickly building a parts supply network that utilizes the area’s cost-competitiveness.

Other nations as well

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Other Southeast Asian nations are also trying to draw aircraft-related businesses from overseas, a move resulting in fierce competition with rivals in the region. 

Singapore has been a leader in attracting foreign capital in the MRO field, with its hub airport that sees more than 65 million users annually.

Malaysia and Indonesia are actively trying to increase investments from overseas by highlighting their advantages, such as preferential treatment for foreign investments and low labor costs. 

Asia’s largest low-cost carrier, AirAsia Group Bhd., is headquartered in Malaysia. 

“MRO businesses have helped to grow related industries such as parts manufacturing and to create jobs,” said an official from the Malaysian Investment Development Authority.

Source - TheJakartaPost 

Somkid urges BOT (Bank of Thailand) action on baht

THE government’s economics chief has voiced his concerns over a strong baht with his central bank counterpart, citing the impact on farmers and calling on him to be ready to put the brakes on further gains in the currency.

Deputy Prime Minister Somkid Jatusripitak yesterday said the government was worried that a chain reaction would set in as farmers across the country struggled with burden of an appreciating currency.

Somkid said he had aired these concerns with Bank of Thailand (BOT) governor Veerathai Santiprabhob and asked him to ensure that the baht won’t be allowed to rise too rapidly.

 “The governor understands the issue but the central bank cannot quickly bring the value of the baht down due to the many influencing factors,” Somkid said of his talks with Veerathai. Somkid said the central bank’s stance is understandable and that the government cannot intervene in the policymaking of the BOT.

Somkid’s comments follow a meeting he held with senior officials from the many ministries that are formulating economic policies aimed at helping low-income earners. Officials raised the issue of the impact of the appreciating baht on farmers, which makes their commodities less competitive on the global markets.

Somkid said the government plans to set aside Bt12 billion for fiscal 2020 on economic policies that benefit the poor.

 In a separate news conference, Veerathai vowed he would take action on the baht’s strength and has called for other parties to coordinate in actions to remedy its impacts.

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He defended the central bank’s actions in raising the policy rate in December, to 1.75 per cent. Veerathai said the move did not cause to the baht to rise against the US dollar, not did it encourage capital inflows.

This year, capital outflows from the bond market are at US$400million, while inflows into the stock market are just US$100 million, resulting in net outflows of $300 million, he said.

The weaker dollar, combined with the high current account surplus, has contributed to the baht’s rise, he said.

He expressed his concern that a less resilient economy would encounter difficulties with exchange rate volatility.

The currencies of some countries have experienced higher volatility than the baht but their economies are coping with it better than the Thai economy, Veerathai said.

He said that some experts may want the baht fixed at 31,32 or 33 to the dollar but the exchange rate cannot be fixed due to the many external factors that are beyond Thailand’s control.

“The most important is how to make sure the economy can absorb the exchange rate volatility,” he said.

This means that the competitiveness of Thai firms largely depends on pricing, he said in respond to exporters who have complained about the impact of the baht appreciation. 

Importers have been prudent as they have use financial tools to hedge against the risk stemming from exchange rate volatility, but exporters have not yet hedged against such risks on regular basis, Veerathai said.

He promised to make the forwards market more transparent and competitive in order to help businesses to cut hedging costs. Banks‘ clients do not understand how banks run the forwards market and are unclear on the competitiveness of this market, he said.

Veerathai encouraged exporters and importers to rely more on local currencies rather the US dollar.

Thailand’s exports to the US represent 10 per cent of the total, but they quote prices in US dollar on up to 70 per cent of total exports, he said.

He advises businesses to quote their product prices in yuan , yen, ringgit and other currencies of the country’s trading partners.

Thailand should also take advantage of the stronger baht to import capital goods for domestic investments, he said, referring to the relatively weak investment as the major cause of the current account surplus.

Thailand had a relatively high current account surplus of US$37 billion last year, due to surpluses in goods exports and income from tourism.

According to the central bank, the baht has risen 3.93 per cent against the US dollar, hovering above Bt31 since the beginning of the year.

“The rise of the baht is in the middle of the group among currencies of emerging economies. For example, the Russian rouble and the Indonesian rupiah have risen much more rapidly,” Veerathai said,

Source - TheNation

 

Cambodia - Central bank links up for Thai pay system

The Kingdom’s central bank unveiled plans on Wednesday to collaborate with its counterpart in neighboring Thailand to launch a QR code payment system, a bank official said.

The system, which would allow people from either country to rapidly send funds to one another, is aimed at those who travel often for business or tourism.

An announcement from the National Bank of Cambodia (NBC) said it would let users bypass the need to use costly exchanges to turn Cambodian riel into Thai baht, or vice versa.

The systems will also allow Cambodian workers in Thailand to transfer money to their families at home.

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 The NBC’s director-general of central banking, Chea Serey, said the initiative will receive support from financial institutions in both countries and that leaders would meet up later this year to define rules and procedures.

She said the system was set to go public next year.

“This is another effort to promote the use of riel. [It] will allow Cambodians to use their own currency abroad and will prove to the public that it is internationally recognised,” she said.

The system will only work for users whose bank accounts utilise Cambodian riel, and aims to be a catalyst to boost riel usage.

Cambodian imports accounted for $15.5 billion in total last year, in which the imports from Thailand was 16.5 per cent of total imports. It is second only to China, whose products account for 41.7 per cent of imports to the country.

In September of last year, the NBC signed an agreement with the People’s Bank of China in Guangxi to set up an official yuan-riel exchange rate, allowing businesses to conduct settlements without having to use the US dollar.

#Google Thailand offers free public Wi-Fi

GOOGLE Thailand yesterday launched a series of initiatives, including free high-speed public Wi-Fi, to enable more Thai consumers and businesses to participate in the growth of the digital economy.

The initiatives were announced at the first Google for Thailand event, held in Bangkok under the theme “Leave no Thai behind”, aimed at promoting equality of digital access.

Ben King, country director of Google Thailand, said at the event that the Google’s initiatives would span across the four pillars: access, education, content and products and small and medium-sized enterprises (SMEs).

“They were designed to ensure that all Thais would have opportunities and know-how to access technology and use it to build livelihoods,” he said.

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King said Thailand is rapidly growing digital economy. He showed a projection of digital economic opportunity in Thailand worth US$37 billion, while the opportunity in Southeast Asia is US$200 billion.

Moreover, Thailand is No 5 for average peak connection speed, or 106 MB per second. Ranking first is Singapore, followed by Hong Kong, South Korea, and Qatar, according to Akamai Technologies, a content delivery network and cloud service provider. 

Thailand is second for highest mobile Internet adoption in Asean, having 90 per cent of 3G/4G coverage across the country.

The event was also attended by Prime Minister Gen Prayut Chan-o-cha, who delivered a speech on the vital role that digital technology will play in achieving the government’s 20-year national strategic plan. However, he urged netizens to learn how to use the benefits of digital technology but not be used by it.

One of the highlights launched yesterday was Google Station, a high-speed public Wi-Fi programme undertaken in Thailand, in partnership with CAT Telecom, sponsored by Unilever.

 Google Station will start in 10 venues across Bangkok and in two provinces, Pichit and Loei, and will be expanded to other parts of the country in the coming months, allowing more Thais to access a free and reliable Internet connection, said Anjali Joshi, vice president of product management.

Currently, locations available for the free Wi-Fi services in Bangkok include Hualamphong train station and Megabangna shopping mall. To register, people should go to @FreeGoogleStation-CAT Wi-Fi system and enter their mobile number and name. 

Thailand is the fourth country to have Google Station, after India, Indonesia and Mexico.

King also announced the construction of the Academy Bangkok – A Google Space, a digital skills training facility at True Digital Park in Bangkok.

It will open later this year and will be a new training venue for participants of the Google Ignite programme, a two-month digital marketing training course that prepares university students for careers in Thai companies.

Google also introduced a new feature, Motorbike Mode, for Google Maps in Thailand.

Krish Vitaldevara, product lead for Google Maps, said the new feature will help Thailand’s 20 million motorcyclists to plan routes taking into account shortcuts and narrow roads that only motorbikes and scooters can take and offers more accurate travel times that reflect motorbike speed.

To support Thailand’s ever-growing YouTube community, Mukpim Anantachai, head of YouTube partnership, YouTube Thailand, said the company would relaunch the YouTube Pop-Up Space in Bangkok in November to give Thai creators access to state-of-the-art production facilities.

During the announcement, Mukpim also unveiled a new data plan in partnership with AIS. It will offer unlimited data packs at Bt59 per month for YouTube Go, an app that allows viewers in Thailand to watch and share YouTube videos even with slow or no Internet connection.

Lastly, Google Thailand announced collaboration with Siam Commercial Bank to allow SMEs to sign up and be verified for Google My Business, a free business listing on Google Search and Google Maps, through SCB personnel who will visit SMEs at their stores.

Source - TheNation

#Laos Receives Four Russian Mi-17 Helicopters

Russian Helicopters, part of the Rostec State Corporation, has completed its first service contract to the Lao Ministry of Defence, transferring four repaired Mi-17 helicopters at an official handover ceremony on Wednesday.

The ceremony was held at the Vientiane air base and was presided over by Lao Deputy Minister of Defence, Phouvong Vongphom, who inspected the helicopters.

A crew from the Lao Air Force made a demonstration flight in the repaired helicopter during the event.

“We prepared an offer to repair another batch of Mi-17 type helicopters at the request of the Lao party. I hope the decision will be made shortly,” said CEO of Russian Helicopters, Andrei Boginsky.

The two sides held talks on supplies of new aircraft and continuation of cooperation in service and maintenance of earlier deliveries.

The Lao aircraft fleet includes over 20 civil and military helicopters. Laos operates Ka-32T helicopters in addition to the Mi-8/17 type.

Source -Laotian Times

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#Cambodia - Deal for yuan trade with China in works

China’s currency, the renminbi, or yuan, being counted in stacks next to US dollars. 

Officials in Cambodia and China’s Guangdong province are cooperating to establish trade using yuan instead of US dollars, part of the two countries’ increasingly close economic relationship. 

The suggestion to use yuan directly, instead of using US dollars as an intermediary currency, was made by deputy-director of Guangdong province Ouyang Weimin during a visit to the province by Cambodian Minister of Commerce Pan Sorasak on Friday.

Seang Thay, a spokesman at the Ministry of Commerce, said yesterday that as trade between the two countries continued to grow, Chinese currency should also increasinglly be used in bilateral trade.

“The fluctuation of exchange rate is risky for businesses, because sometimes the US dollar could be appreciate or depreciate compare with the Chinese yuan,” he said.

“We are trading with China more and more, so accepting Chinese yuan for trade deals is also good for businesses.” 

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While the two countries appear in-sync on promoting trade in yuan, there is not yet an official agreement to establish such a system in Guangdong, according to Thay.

Last September, the National Bank of Cambodia (NBC) and the People’s Bank of China in the autonomous Guangxi region in southern China launched an official yuan-riel exchange rate, which allowed banks in Guangxi to exchange the two currencies directly. That marked the first time riel could be exchanged in China and eliminated the need to use US dollars as an intermediary currency.

According to NBC data, there were 17 banks in Cambodia that could handle yuan transactions last year, up from 11 in 2014. Only four – ICBC, the Bank of China, Canadia Bank and First Commercial Bank – allow deposits to be made in yuan.

 In 2016, cross-border trade in yuan amounted to about $377 million, accounting for about seven percent of the two countries’ total trade and investment, according to the NBC. The remaining 93 percent was done using US dollars.

Source - PhnomPenhPost

#Vietnam - 2018 rice export to hit 6m tonnes

HÀNỘI — Việtnam’s rice export volume in 2018 is expected to increase by 400,000 tonnes from 2017 to reach 6 million tonnes, due to increased demand from Southeast Asia, especially from the Philippines, with China expected to be the country’s largest rice market.

The Vietnam Food Association (VFA), in a report earlier in January, said countries in Southeast Asia will import a large amount of rice from Việt Nam, helping boost the country’s turnover this year.

The VFA said Indonesia will import rice from Việt Nam and Thailand again in 2018 to increase reserves, as Indonesia’s rice price has been rising, almost double the floor price.

Similarly, the National Food Board of the Philippines approved of up to 250,000 tonnes of imported rice to offset declining inventories, due to unfavourable weather in 2017.

These developments are encouraging for Việt Nam’s rice export market, said the VFA’s report, with export price of 5 per cent broken rice rising to US$400 per tonne from $390.

Domestic rice price also increased, with the average price between to $267 to $293 per tonne as of January’s end, having increased by $13 to $15 per tonne from December 2017’s price.

According to the VFA’s data, throughout 2017, the country exported 5.7 million tonnes of rice worth $2.54 billion.

As mentioned by the US Department of Agriculture (USDA)’s 2018 world rice production forecast, issued late 2017, the main factor behind this year’s rice trade expansion is increased output from Việt Nam, Pakistan and Myanmar, three of the world’s top six rice exporting countries.

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The USDA’s report stated that though 2017 global rice output fell by 20 per cent from 2016’s number, as a result of weak outlook for grain products, long, heavy rainfall and spring floods and other unfavourable weather, meaning there should be positive signals from traditional rice importing markets in Southeast Asia in early 2018.

In Bangladesh and Sri Lanka, whose rice crops were heavily influenced by harsh weather, demand for rice imports will also increase in 2018. Rising import demand is supported by increased purchasing power in Africa and the Middle East, while China continues to be a leading importer of rice from neighbouring regions.

As such, Việt Nam will witness an increase in revenue from rice exports to several large consumer markets.

According to the Department of Crop Production under the Ministry of Agriculture and Rural Development, in early January 2018, the Mekong Delta’s rice producers harvested 860,000 hectares of rice, with an average yield of 5.3 tonnes per hectare.

Nonetheless, problems remain for national rice production, the majority of which stem from farmers’ ignorance.

Talking to Vietnam News Agency during a late 2017 agricultural conference in the Mekong Delta, Võ Tòng Xuân, former vice rector of Cần Thơ University and rice expert, emphasised growing competition in global rice markets.

Xuân warned that Việt Nam needs to find ways to make its rice exports stand out if it wants to achieve export targets.

Regarding export rice quality, he was convinced that since rice merchants often mix different batches from different farmers into one large batch, there is virtually no way to completely track the origin of any batch.

Without clear origin, there are no certain product quality controls, and no major national rice brand for Việt Nam, Xuân added.

He suggested issuing contracts between rice farmers and processing plants for sustainable production, via agricultural co-operatives instead of relying on middlemen.

Xuân also said that there remain regulations acting as barriers to small and medium enterprises from entering the rice market. Exporting low quality rice and fragrant rice without a brand name is becoming increasingly difficult for Việt Nam, especially in finding niche markets to sell several thousand tonnes. 

 

Source - Vietnam News

H.I.S. to open 10 more robot-staffed hotels in #Japan

Japanese travel company H.I.S. Co. said Monday it will open 10 more hotels staffed by robots in Tokyo, Fukuoka, Osaka and Kyoto by March 2019.

"Henn-na Hotel," or "strange hotel," featuring dinosaur or female humanoid robot receptionists and cleaning robots, will be opened in downtown areas of the cities, targeting the booming foreign tourist market in Japan, the company said.

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 Currently, H.I.S. operates three similar hotels near theme parks in Sasebo, Nagasaki Prefecture, Urayasu, Chiba Prefecture and Gamagori, Aichi Prefecture.

The company plans to open six branded Henn-na Hotels in Tokyo between December and September next year, one in Fukuoka and two in Osaka in December 2018, and another in Kyoto in March 2019, with the investment estimated to total approximately 20 to 30 billion yen ($180-270 million).

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Source - TheJakartPost

Seed giant East-West opens #Cambodia branch.

East-West Seed Group, one of the world’s largest vegetable seed companies, has stepped up its presence in Cambodia by officially launching a local branch and taking over distribution operations in the Kingdom to better address local market conditions, a company representative said yesterday.

Heng Rithea, country representative of East-West Seed (EWS) for Cambodia, said the company’s business model was focused on serving the needs of smallholder farmers, the vast majority of whom produce vegetables on plots smaller than a hectare. 

“Smallholder farmers can increase the yield and quality of their crops with improved seed varieties,” he said. 

EWS began providing seeds to Cambodia in 2005 through a local distributor. In 2009 the Thai-based company expanded to knowledge-transfer activities in cooperation with the government and German development agency GIZ, training farmers in Siem Riep on improved techniques that result in higher productivity. This was followed by other partnerships with the government and development organisations in other parts of the country.

Rithea said a stronger local presence would help improve the company’s understanding of the local market and allow it to develop new seed varieties under local farming conditions to ensure suitability and adaptability for Cambodian farmers.

“We breed for what the market wants,” he said. “We understand the local needs and see what is happening in the market and [in people’s] diets.”

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He said innovation was crucial to raising the standards of the agricultural industry, adding that EWS invests around 15 percent of its turnover into research and development.

“This allows us to develop tropical vegetable seeds that help farmers grow better crops,” he said.

Rithea explained that Cambodia’s agricultural industry faces numerous challenges, including a hot, humid climate subject to heavy rains and extreme weather conditions.

“This kind of environment results in high pest and disease pressure,” he said. “Farmers also lack access to technology, basic infrastructure like farm-to-market roads, irrigation and post-harvest facilities and lack of access to credit and finance.”

He said another challenge here was the amount of unregistered seeds that flow into the country from different channels and which, while sold at very competitive prices, are of dubious quality.

“Some farmers who used those seeds without any information or warranty wasted lots of time, money and labour as the seeds did not germinate or provided low yields,” he said. 

Cambodian farmers are increasingly turning to specialised companies to provide high-quality seeds for their crops, according to Khan Samban, director of the Industrial Crops Department at the Ministry of Agriculture, who said 21 registered seed companies now supply the local market.

“All the registered seed companies are growing currently on the potential to increase the productivity of farmers,” he said.

Author: Cheng Sokhorng - PhnomPenhPost 

Smartphone maker HTC explores strategic options

HTC Corp., the beleaguered manufacturer that once ranked among the world’s top smartphone makers, is exploring options that could range from separating its virtual-reality business to a full sale of the company, according to people familiar with the matter.

The Taiwanese firm is working with an adviser as it considers bringing in a strategic investor, selling its Vive virtual reality headset business or spinning off the unit, the people said. HTC has held talks with companies including Alphabet Inc.’s Google, according to the people, who asked not to be identified because the information is private.

A full sale of HTC, which has businesses ranging from VR to handset manufacturing, is less likely because it isn’t an obvious fit for a single acquirer, one of the people said. 

Shares of HTC rose 4.7 percent in Taipei on Friday to the highest close in more that two weeks, giving the company a $1.9 billion market value. The company has shed about 75 percent of its value over the past five years as its smartphone market share dipped below 2 percent.

No final decisions have been made, and HTC may choose not to proceed with any strategic changes, the people said. Representatives for HTC and Google declined to comment.

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The Taoyuan City-based firm has been attempting to refocus its growth prospects on the high-end VR business, with shipments of the Vive headset totaling more than 190,000 units in the first quarter, according to research firm IDC.

HTC cut the price of the Vive by $200 earlier this week, in an effort to expand product sales and its user base, which is more important now than earnings, according to Sanford C. Bernstein & Co. analyst David Dai.

The company is also trying to revive its smartphone unit with its latest flagship U11 model and a contract manufacturing deal to assemble Google’s Pixel handset.

“It’s a cutthroat Android smartphone market out there,” Ramon Llamas, IDC’s research manager for wearables and mobile phones, said in an interview, referring to the mobile operating system developed by Google.

“Apple and Samsung have made it hard for HTC to stay at the top of the market, and Chinese phone makers have made it hard for HTC to dominate the middle and low end of the market,” Llamas said.

A transaction with a Silicon Valley firm like Google would mark a face-saving moment for Cher Wang, HTC’s co-founder and largest shareholder, who took over as chief executive officer of the the manufacturer in 2015. Wang has been unable to stem the losses in market share since returning to the company in a full-time capacity. The daughter of a petrochemical billionaire, Wang was Taiwan’s richest woman until HTC’s stock tanked.

HTC, founded in 1997, began as a contract manufacturer. In 2002, it won a deal with Microsoft Corp. to make Windows-based phones and quickly became one of the top producers globally. It also made the first Android phone in 2008.

Vive is a “different beast” from Facebook Inc.’s Oculus VR and Sony Interactive Entertainment LLC’s PlayStation VR, Llamas said. “I am not seeing other companies really making that play, competing in that same area,” he said.

 Read also: HTC revenues plunge to an eleven-year low

Source - TheJakartaPost

Disney empire strikes back, sort of, with new streaming plan

Walt Disney Co. has the potential to shake up the television sector with its plan to offer direct-to-consumer streaming services and take on Netflix on its own turf.

But analysts say the move is likely to have only limited impact on the Netflix juggernaut and represents an effort by Disney to keep pace with the industry shift to online television services.

Disney announced Tuesday it would launch a "multi-sport" streaming service under its ESPN brand in early 2018 and a Disney branded direct-to-consumer service in 2019.

At the same time, Disney said it would end its distribution agreement with Netflix for subscription streaming of new releases starting in 2019, including popular film franchises like "Lion King" and "Frozen."

The shift is likely a positive move "because Disney is a destination brand," said Rebecca Lieb, an independent media analyst and former television executive.

"Of all the content providers, Disney is in the best position. Parents take their kids to see the next Disney movie, and sports fans will follow ESPN."

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Missing pieces 

But a closer look at the Disney announcement suggests it is not as dramatic as it appeared initially.

Disney chief Robert Iger said the company had not yet decided on whether its "Star Wars" and Marvel films would be on the Disney-owned service or on third parties such as Netflix.

And its ESPN service may be limited to sports such as baseball and ice hockey, without the more popular professional basketball and National Football League games.

"I don't think the threat to Netflix is that great," said Alan Wolk, an independent consultant who follows the television industry.

"Netflix is very well entrenched especially since they are international."

Wolk noted that streaming-only viewers without cable subscriptions are interested in live sports but that it's not clear if the ESPN package will be attractive.

"This is not full-fledged and I wonder if it will have trouble attracting viewers since it doesn't have NBA and NFL."

Disney's move comes with many US television viewers abandoning expensive cable TV "bundles" in favor of on-demand online services like Netflix and Hulu.

The availability of standalone streaming from channels like HBO and CBS is likely to accelerate that trend, as will the new services from Disney.

Read also: Disney teases ‘Star Wars’ hotel in park investment flurry

Getting viewer data 

Wolk said one advantage for Disney of moving online is getting better data on viewers without relying on third-parties.

"Traditional broadcasters have no relationship with their consumers, they have no idea who they are," Wolk said.

"One of the advantages (of streaming) for Disney is they get email addresses and credit card numbers. For advertising they can do addressable and cross-screen advertising."

Tuesday's announcement coincided with Disney's boosting its stake in the streaming technology group BAMTech LLC. Disney said it would pay $1.58 billion to acquire an additional 42 percent stake in BAMTech to bring its ownership to 75 percent.

But Richard Greenfield at BTIG Research argued that Disney's actions were "too little, too late" in a sector that is rapidly shifting to a Netflix model.

"When historians look back on who is to blame for the rise of Netflix, we believe they will focus their attention on Disney, under the leadership of Iger," Greenfield said in a note to clients.

Read also: Fans of Disney? List of upcoming movies to be excited about

"Disney has sold Netflix more content across film and television than any other company, with Netflix now 'a monster' that we believe has achieved escape velocity."

Greenfield said Disney could have built its own direct-to-consumer system but is now playing a costly catch-up game that is likely to be "painful" for revenues.

"Disney simply waited too long to make this critical decision," Greenfield said.  

Jan Dawson at Jackdaw Research agreed that Disney is late to the game.

The company "has been suffering as ESPN subscriber numbers and ratings go downhill, and so is coming at this direct-to-consumer shift from a position of weakness rather than strength, making it more urgent and critical for the company’s future," Dawson said in a blog post.

"But those services won’t launch until next year (ESPN) or the year after (Disney), meaning that the company won’t see any meaningful positive impact until it’s seen several more quarters of declines in the ESPN business."

Source - TheJakartaPost