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Launch of Thai content part of Kahoot’s expansion in APAC, says VP
Kahoot, a global learning and engagement platform, is focusing on Thailand as a priority market within the Asia-Pacific (APAC) region
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Les mer >>>True Online kicks off 2025 with AI smart home, connects relationships
True Online has announced a range of cutting-edge AI-powered technologies and smart home innovations
The post True Online kicks off 2025 with AI smart home, connects relationships appeared first on The Story Thailand.
Les mer >>>orbix INVEST debuts its first “trigger strategy”, targeting a 20% return in six months
orbix INVEST announces the launch of OBX-TRIGGER20, the company’s first use of the “trigger strategy”
The post orbix INVEST debuts its first “trigger strategy”, targeting a 20% return in six months appeared first on The Story Thailand.
Les mer >>>Adrian Mazenauer appointed as CEO of SCB Julius Baer
SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer) announced today the appointment of Adrian Mazenauer as Chief Executive Officer
The post Adrian Mazenauer appointed as CEO of SCB Julius Baer appeared first on The Story Thailand.
Les mer >>>Bitkub launches Voting Platform and gKUB Token
Bitkub Blockchain Technology Co., Ltd. has announced the launch of Voting Platform. This platform allows KUB coin holders to participate
The post Bitkub launches Voting Platform and gKUB Token appeared first on The Story Thailand.
Les mer >>>KBank unveils 2025 strategy: leveraging technology for growth and customer service
KASIKORNBANK unveiled plans and business targets for 2025, aiming to deliver sustainable value to stakeholders
The post KBank unveils 2025 strategy: leveraging technology for growth and customer service appeared first on The Story Thailand.
Les mer >>>OR appoints M.L. Peekthong Thongyai as new CEO
OR has announced the appointment of M.L. Peekthong Thongyai as its new Chief Executive Officer.
The post OR appoints M.L. Peekthong Thongyai as new CEO appeared first on The Story Thailand.
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- Launch of Thai content part of Kahoot’s expansion in APAC, says VP
Kahoot, a global learning and engagement platform, is focusing on Thailand as a priority market within the Asia-Pacific (APAC) region
The post Launch of Thai content part of Kahoot’s expansion in APAC, says VP appeared first on The Story Thailand.
Kahoot, a global learning and engagement platform, is focusing on Thailand as a priority market within the Asia-Pacific (APAC) region, with its recent launch of localized content and Thai language support, a senior executive says.
Ahteram Uddin, Kahoot’s APAC Vice President for Commercial, said that Thailand is the first Southeast Asian market to receive a localized language version of the platform, due to the substantial user demand and high usage growth.
“We’ve been getting a lot of requests from Thai users. … We look at the users’ growth. When we saw that usage, we decided to focus on Thailand and then we started with localization,” Uddin told The Story Thailand.
“Now we have Thai language release so we can generate and run Kahoot in Thai. We are growing our presence here where we’ll be working on more partnerships.”
Local feel for users
Uddin reckoned that content from Thai creators on the platform would provide Thai users with a “100% local experience”, rather than relying on English or global content.
Kahoot’s Thai version is available on its web platform, as well as the iOS and Android mobile apps, Uddin disclosed in his article published on the company’s website in December.
“With Kahoot now available in Thai, millions of Thai speakers –including teachers, students, employees, families, and lifelong learners – can enjoy a more personalized and easy-to-use experience,” he wrote.
With the launch of its Thai version, Kahoot is now available in 20 languages, including multiple other Asian languages – Japanese, Chinese, Korean, and Indonesian. More than 1 million teachers in Asia-Pacific (over 130,000 of them in Thailand) are using Kahoot with their students, as well as over 200 million participants at school, work, and home over the past year, according to Uddin.
“Our localization efforts are a key part of how we’re investing in growth in APAC, as we continue to connect more educators, students, businesses, families, and social users across the region with digital tools to elevate learning,” the VP said.
“As we expand our presence in APAC, we’re committed to ensuring that every educator and learner across the region can easily access and use Kahoot’s solutions to foster interactive and engaging learning anywhere.”
Simple key to success
The Kahoot VP also emphasized Thailand’s significance as a priority market in the Asia-Pacific region. “Definitely Thailand is one of the priority markets for us,” he said, adding that other key APAC markets include Vietnam, Indonesia, Malaysia, Singapore, and India.
“We have users almost everywhere in Asia Pacific. At the same time, we will be working with partners and educators across the region.”
When asked about Kahoot’s expansion plan in Thailand, the VP said: “Our key to success is simple. We’ll follow the same philosophy: Make the platform so good, so relevant for Thai users that a revenue automatically follows.”
He stressed, however, that Kahoot does not rely on marketing or paid user acquisitions to do business in Thailand or elsewhere. Instead, it focuses on building an ecosystem entirely in the Thai language, making it so appealing to users that they convert into premium subscribers for advanced services.
Among Kahoot’s content partners are Cambridge University Press, Britannica, Macmillan Education, National Geographic, Time Kids, Disney, Marvel, and Angry Birds.
To ensure seamless integration, Kahoot also has partnerships with such popular platforms as Microsoft Teams, Zoom, Google Classroom, and Apple Schoolwork.
The free version of Kahoot has limited options. For example, in a session an educator cannot host more than 40 students, compared to 2,000 in the premium version. Also, subscribers have access to a library of premium content from Kahoot’s partners.
“If you’re doing research, analysis or presentation, or creating a question bank, you have all the references automatically available here,” Uddin said.
‘Kahoot’ becomes a verb
Founded in 2012 and headquartered in Oslo, Norway, Kahoot emerged as a collaborative initiative between the Norwegian University of Science and Technology and its co-founders Morten Versvik, Johan Brand, and Jamie Brooker. In 2013, the learning platform made its commercial public debut – initially as a free quiz-based game. It swiftly gained traction and grew to become a global sensation among educators, students, and corporate users alike.
The New York Times once reported that Kahoot has become a pop culture phenomenon in schools and learning environments, with “kahooting” being used as a verb.
“We have 11 billion participants across the globe. We get 1.6 billion participants every year,” Uddin said.
In Thailand alone over the last 12 months, Kahoot has drawn about 20 million participants, and more than 2 million learning sessions have been created, according to the VP.
“It’s used in school as well as corporate learning and development. On corporate side, we have seen 50% growth in usage in last 12 months,” he said.
Kahoot claims that 97% of Fortune 500 companies and the world’s top 500 universities use the online learning platform.
‘We simplify learning’
On its website, Kahoot describes itself as “a global learning and engagement platform company that wants to empower everyone, including children, students, and employees, to unlock their full learning potential.”
Uddin said Kahoot makes learning easier for users. “We simplify learning. We gamify learning, and we make learning awesome. With technology, we we’ve taken the complication out of the whole learning.”
He added that online learning platforms like Kahoot encourage lifelong learning. “You don’t have to be in a classroom to learn. You could be learning on your phone, on the move.”
Uddin said that a challenge for Kahoot is to communicate that it is more than a quiz platform.
“For us, the key to success is localization and awareness that we are more than a quiz platform that you have seen as free. Rather, you should experience what we can do.”
According to the VP, more than half of Kahoot’s 600-strong workforce is focused on research & development and product enhancements.
“Our products are so engaging because we are a product-first company. We have serious investment in products and services, and everything else comes after that,” he said.
Kahoot Group is listed on the Oslo Stock Exchange, with aggregated revenue of US$500 million (16.8 billion baht) between 2020 and 2023.
Since January 2024, the company is owned by US investment bank Goldman Sachs, American growth equity firm General Atlantic, and Danish investment group Kirkbi, which owns Lego.
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orbix INVEST debuts its first “trigger strategy”, targeting a 20% return in six months
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5 February 2025Technologyhttps://www.thestorythailand.com/?p=147136 - True Online kicks off 2025 with AI smart home, connects relationships
True Online has announced a range of cutting-edge AI-powered technologies and smart home innovations
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True Online has announced a range of cutting-edge AI-powered technologies and smart home innovations designed to enhance the intelligent lifestyle at home. Under the concept “Your Everyday Connect Tech,” True Online aims to connect people and technology, enriching their digital lives every day.
“At True Online, we believe that technology should be more than just a connection; it should connect all aspects of our lives,” said Tanaphon Manavutiveth, Chief Marketing Officer, True Corporation Plc. “Our new offerings are designed to do just that, by seamlessly integrating AI and smart home technologies to create a truly connected and intelligent living experience.”
True Online’s new offerings are built around three main strategies:
- Smart Tech: The latest technology with the world’s most advanced Wi-Fi 7 router, delivering high-speed Wi-Fi at 2Gbps. It also features a dual-router system, providing both fiber optic and backup mobile network signals for seamless Wi-Fi access in emergencies.
- Smart Solution: The first and only router that connects IoT devices in the home, functioning as an IoT Hub while also providing Wi-Fi. It comes with Smart Home IoT devices and the TrueID TV Gen 3, an AI-powered smart TV box offering features like AI Fitness, AI Game, the latest AI chipset, 4K HDR resolution, and karaoke services.
- Smart Service & Privilege: Convenient and easy with the True iService app, a one-stop hub for information and services, with Mari, available 24/7 for customer support, plus exclusive benefits designed for customer satisfaction.
“We are confident that our new offerings will transform the way people experience their homes,” said Sakolporn Hanchanlert, Head of Postpaid Convergence Division, True Corporation Plc. “By seamlessly integrating AI and smart home technologies, we are creating a truly connected and intelligent living experience that will enhance every aspect of our customers’ lives.”
orbix INVEST debuts its first “trigger strategy”, targeting a 20% return in six months
Adrian Mazenauer appointed as CEO of SCB Julius Baer
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5 February 2025Technologyhttps://www.thestorythailand.com/?p=147213 - orbix INVEST debuts its first “trigger strategy”, targeting a 20% return in six months
orbix INVEST announces the launch of OBX-TRIGGER20, the company’s first use of the “trigger strategy”
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orbix INVEST announces the launch of OBX-TRIGGER20, the company’s first use of the “trigger strategy”, which aims to terminate the strategy once a 20-percent return target has been achieved (returns are not guaranteed) or upon reaching the six-month timeframe. The strategy focuses on investment in leading digital assets over a six-month period. Key benefits include zero fees for the front-end fee and “No Success, No Fee”, meaning if the return target is not met within the timeframe, no fees will be charged for the back-end fee. The subscription period runs from January 30, 2025, to February 11, 2025, with a minimum investment of 5,000 Baht.
Dr. Tanapoom Damraks, Managing Director of orbix INVEST, said, “orbix INVEST operates as a digital asset fund manager under Unita Capital, a subsidiary of KASIKORNBANK FINANCIAL CONGLOMERATE. The company provides digital asset investment solutions to meet the needs of clients seeking professional management of their investments. With the concept of “Strategist for Kryptonian”, orbix INVEST aims to combine expertise and innovation to make digital asset investment easier and more accessible for everyone. orbix INVEST sees opportunities during periods of high volatility in the digital asset market, especially following Bitcoin’s halving, which typically impacts the price adjustments of certain digital assets. In response, the company has launched OBX-TRIGGER20* as its first initiative to cater to investors seeking clear and tangible returns. A key highlight of this strategy is the waiver of the front-end fee, allowing investors to explore investment opportunities without an initial charge. Additionally, if the strategy does not meet its set targets, investors will not be subject to a back-end fee. This approach reinforces the “No Success, No Fee” policy, reflecting transparency and fairness, as fees are only charged to investors when the investment successfully achieves its goals.”
OBX-TRIGGER20 employs a trigger strategy, in which investments will be exited once the return reaches the target of 20 percent of the initial investment value. The fund management team focuses on large- to medium-cap digital assets with a market capitalization of at least USD 500 million, selected based on strong fundamentals as per the investment framework. For greater flexibility, this strategy allows investment allocation in digital assets to range from zero percent to 100 percent of the total investment value, depending on the fund manager’s discretion and market conditions at any given time.
However, the 20-percent return target is not a guarantee of returns. It is only a condition for terminating the strategy. The amount that investors will receive from terminating the strategy under the above conditions may be less than or equal to 20 percent of the initial investment value due to deductions of expenses, fees, and advance payments for related expenses of the strategy (if any). During the first six months from the initiation date of the OBX-TRIGGER20 strategy, investors will not be able to reduce capital and/or invest in other strategies. When the strategy ends on August 11, 2025, orbix INVEST will switch all investments to the BTC Flagship strategy within two business days, allowing investors to reduce capital and/or change from the BTC Flagship strategy to invest in other strategies.
Dr. Tanapoom added that the company confirms its commitment to transparency and fairness with the “No Success, No Fee” policy. If the targets are not met, investors will not be subject to front-end or back-end fees. This is an opportunity not to be missed for those looking for the right time to invest in digital assets and keep up with opportunities in a market with potential for future growth.
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4 February 2025Businesshttps://www.thestorythailand.com/?p=147142 - Adrian Mazenauer appointed as CEO of SCB Julius Baer
SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer) announced today the appointment of Adrian Mazenauer as Chief Executive Officer
The post Adrian Mazenauer appointed as CEO of SCB Julius Baer appeared first on The Story Thailand.
SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer) announced today the appointment of Adrian Mazenauer as Chief Executive Officer, effective immediately. Adrian currently serves as Deputy CEO and Head of Wealth Management Thailand.
With over 25 years of leadership experience in the global investment and finance industry, Adrian has been instrumental in shaping SCB Julius Baer’s wealth management services since joining the firm in 2019 as Managing Director and Head of Wealth Management. His innovative approach and expertise with regards to investment solutions has been essential to provide tailored solutions and meet the needs of high-net-worth clients in Thailand.
As CEO, he will define the strategic direction, as well as oversee the client servicing and operations teams of SCB Julius Baer, further solidifying the Bank’s reputation as a leading wealth management provider in Thailand and ensuring the delivery of outstanding best-in-class investment advice.
Commenting on Adrian’s appointment, Kris Chantanotoke, Chief Executive Officer of Siam Commercial Bank and the Chairman of the Board of Directors, SCB-Julius Baer Securities Co. Ltd., said, “We are delighted to announce the appointment of Adrian as our new CEO. With over 25 years of global wealth management experience, his extensive expertise, deep understanding of the local wealth management landscape, and dedication to excellence make him the ideal leader to guide SCB Julius Baer into its next chapter. Adrian will drive growth for our high-net-worth wealth management business and lead the organisation towards its goal of becoming a leading wealth management firm in Thailand. This appointment will enable us to provide world-class professional services to our clients, reinforcing SCB Julius Baer’s commitment to “Your legacy. Our promise.”
Jimmy Lee, Head Region Asia, Julius Baer, and Member of the Board of Directors, SCB-Julius Baer Securities Co. Ltd., added, “Adrian’s appointment as CEO reflects our unwavering commitment to serving high-net-worth clients in Thailand. His deep understanding of our business, built over years of leadership, and his pivotal role in shaping our market presence make him uniquely suited for this role. Adrian’s client-focused approach will strengthen our position as the region’s leading wealth manager and drive our next phase of growth.”
Bitkub launches Voting Platform and gKUB Token
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4 February 2025The Movementhttps://www.thestorythailand.com/?p=147140 - Bitkub launches Voting Platform and gKUB Token
Bitkub Blockchain Technology Co., Ltd. has announced the launch of Voting Platform. This platform allows KUB coin holders to participate
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Bitkub Blockchain Technology Co., Ltd. has announced the launch of Voting Platform. This platform allows KUB coin holders to participate in voting on community proposals.
The Voting Platform is a hub where proposals from users and the community are gathered. KUB holders can participate in voting on various proposals using gKUB tokens. The results of these votes could significantly influence changes within the community and the future development of Bitkub Chain, including suggesting new features, system improvements, and policy changes.
Here’s how to participate in voting on the platform in 3 steps:
- Join Bitkub Chain POS Staking: Start by staking KUB coins through https://staking.bitkubchain.com/. Receive BKC-D tokens at a 1:1 ratio to the KUB from staking.
- Stake BKC-D to receive gKUB: Stake your BKC-D tokens on the Voting Platform at https://vote.bitkubchain.com/ to receive gKUB tokens for voting. The amount of gKUB received depends on the specified time and conditions.
- Vote: Use your gKUB to vote on proposals that interest you.
If a proposal created by Bitkub Chain receives sufficient support according to the defined criteria, it will be considered and implemented. However, if the proposal is created by the community or another platform, the decision to implement it lies with the creator of that proposal. Additionally, if any proposal does not receive enough support, participants can reclaim their gKUB tokens. On the other hand, if a proposal receives enough votes to pass, voters will not be able to reclaim their gKUB tokens. These gKUB tokens will then be removed from the system (burned).
Remark: After you participate in voting with gKUB, you will not be able to claim your gKUB back until the proposal period ends.
Bitkub Chain believes that using gKUB on this Voting Platform will strengthen the Bitkub Chain ecosystem by allowing the community to truly participate in developing the infrastructure.
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4 February 2025New Product/Servicehttps://www.thestorythailand.com/?p=147138 - KBank unveils 2025 strategy: leveraging technology for growth and customer service
KASIKORNBANK unveiled plans and business targets for 2025, aiming to deliver sustainable value to stakeholders
The post KBank unveils 2025 strategy: leveraging technology for growth and customer service appeared first on The Story Thailand.
KASIKORNBANK unveiled plans and business targets for 2025, aiming to deliver sustainable value to stakeholders, with leveraging technology to uplift productivity, and enhancing services to offer the right products and services to customers, to reinforce the Bank’s position as trusted partner.
Kattiya Indaravijaya, Chief Executive Officer, KASIKORNBANK said, “KBank will further elevate services to customers by leveraging innovation and AI technology to drive productivity, uplift products and services, and pioneer new products and services tailored to customers’ needs, as well as enhancing customers’ overall experiences with the Bank.”
The Bank’s strategy focuses on balanced and efficient growth while keeping an eye on potential economic headwinds, both locally and globally, as well as the increasing geopolitical uncertainty. The bank has set the following targets for 2025:
- Loan Growth: focus on growing quality loans in selective recovering sectors and secured loans; continue focusing on asset quality by revamping credit strategy, reinvigorating key capabilities, and enhancing end-to-end transformation. The Bank targets flat loan growth in 2025.
- Net Interest Margin (NIM): 3.3-3.5%, in line with interest rate trend and quality loan growth. NIM minus credit cost will continue to improve.
- Net Fee Income Growth: Mid to High-single Digit, driven by new strategic growth in wealth management business, despite lower conventional transaction fees amid changing consumer behavior.
- Cost to income ratio: Low to Mid-40s
- NPL ratio (Gross): less than 3.25%, slightly stable amid uncertain economic recovery.
- Credit Cost: expected to reach normalize level in the range of 140-160bps, with continued prudent financial policy to cover future uncertainties.
Kattiya expects the Thai economy in 2025 to grow at 2.4%, slightly lower than last year. Private consumption and exports remain the key drivers of economic growth, albeit with less growth momentum, along with higher government spending. The Thai economy still faces several challenges, including high household debt, escalating geopolitical issues, and weakened major global economic conditions.
With these very much at the forefront of our minds, and with our long-standing commitment to fostering sustainable growth for our customers’ businesses as a trusted partner, we are doubling down on making our organization resilient as we continue to execute our longer-term plans in what we call our ‘3+1 and Productivity Strategy.’
KBank’s ‘3+1 and Productivity Strategy’ is the combination of the strategy that has been implemented continuously since 2024 including the 3 key priorities which are reinvigorating credit performance, scaling capital-lite fee income businesses, and strengthening and pioneering sales and service models, together with the ‘+1’ strategy creating new revenue streams for the medium- and long-term. Additionally in 2025, KBank also focuses on Productivity strategy to enhance its performance.
During 2025, the bank is accelerating its focus on leveraging advanced technology and Artificial Intelligence (AI) to enable it to support its more than 24 million customers to achieve their full potential.
KBank will continue developing the 3+1 strategic priorities as follows.
Strategy 1: Reinvigorate Credit Performance with a continued focus on quality growth by enhancing loan quality with emphasis on serving existing quality customers through tailored solutions and leveraging data analytics to effectively address customer needs, as well as enhancing end-to-end transformation to elevate credit capabilities. More than 90% of new loan bookings in 2024 came from secured loans and from existing customers who are well known by the Bank. In 2025, KBank will continue focusing on quality loan growth and supporting quality customers, both individual and business, and reactivate support and education programs for SME to enhance our competitiveness and support customers’ sustainable growth.
Strategy 2: Scale Capital-lite Fee Income Businesses by providing investment and payment solutions addressing customers’ needs via channels suitable to each customer group.
- For Wealth Business: KBank continues to promote investment services and being a Trusted Advisor with a variety of investment solutions through “Core & Satellite” portfolio management, leveraging the strength of global partners and local expertise. The Bank responses to a wide range of needs and risk tolerance of customers with investment experts and convenient investment services through K PLUS platform, as well as the ‘Better Finance for Better Life’ service on K PLUS that integrates financial portfolio management and spending tracking for customers. In 2025, The Bank will continue to offer solutions that comprehensively meet the needs of customers, expand and enhance complex investment products through digital experience, along with strengthening and becoming a knowledge hub through K-Wealth, to reinforce #1 position of KASIKORN ASSET MANAGEMENT (KAsset) in fund management business.
- For Payment Business: K PLUS continues to serve as the connection point to KBank’s wide array of products and services, including payment services. Today, more than one in three online transactions in Thailand happens on K PLUS. Our highlight payment services are Remittance that can be transferred in 25 currencies in 150 countries around the world, QR Payment for international transaction via Alipay+ and WeChat, Currency Exchange through ATMs and FX Booths covering strategic areas, and K PLUS Go Inter services offering international travel services in one place. In 2025, the Bank will continue to develop payment services with K PLUS as the main platform, along with expanding to support the ecosystem in the merchant business to accept a variety of payments.
Strategy 3: Strengthen and Pioneer Sales and Service Models: KBank enhances digital-first experience through K PLUS with a secure, convenient, and better experience throughout the customer journey. In 2025, the Bank targets to increase the number of K PLUS users from 23.1 million to 23.9 million. K BIZ mobile application also has been simplified to complement diverse business, and K BIZ users are targeted to rise from 1.2 million to 2.1 million.In 2025, KBank will also continue to strengthen its leadership position in digital banking offering digital first experience, with #1 position in K PLUS and #1 Overall Brand NPS (Net Promoter Score) in Thai banking industry, as well as #1 Contact Center Services NPS (Net Promoter Score) for services via telephone calls, KBank Live, and social media, according to survey by NielsenIQ, the world’s leading consumer research company.
KBank is also laying the foundation of the Strategic +1 for New Revenue Creation for the Medium- and Long-term. KASIKORN INVESTURE (KIV) serves the mass market with partnerships in the ecosystem, while focusing on asset quality. For regional business, KBank focuses on regional expansion in AEC+3, especially the potential markets in China, Vietnam, and Indonesia. Also, KBank has enhanced financial services with innovation via ecosystem play and innovation creation, including launching four licenses in digital asset businesses. KBank also supports business transition to net zero emissions, including establishing Kop50 Co., Ltd., a holding company under KASIKORNBANK FINANCIAL CONGLOMERATE, to initiate a comprehensive sustainable ecosystem project. The Bank continuously introduces innovative services to the market through KASIKORN BUSINESS-TECHNOLOGY GROUP’s initiation. During 2022-2024, KBank delivered more than Baht 120 billion in Sustainable Financing (Loans) and Investment.
Productivity Strategy: The Bank will elevate innovation and productivity by blending advanced technology, AI, and human intelligence, while fostering a culture of learning and high performance.
Ms. Kattiya added that KBank has been a driving force in Thailand’s economic development for 80 years and is guided by a philosophy of being a Bank of Sustainability to ensure the bank’s resilience throughout uncertainties and challenges. KBank has become a trusted partner for customers, empowering them to achieve their full potential through innovation and delivering efficient financial solutions. For this, it has been rewarded with the loyalty of its customers, as proven by the bank’s leading position in numerous product and service areas.
KBank and BAM invest 1 billion baht in ARUN AMC to tackle bad debt
OR appoints M.L. Peekthong Thongyai as new CEO
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3 February 2025Businesshttps://www.thestorythailand.com/?p=147080 - OR appoints M.L. Peekthong Thongyai as new CEO
OR has announced the appointment of M.L. Peekthong Thongyai as its new Chief Executive Officer.
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PTT Oil and Retail Business Public Company Limited (OR) has announced the appointment of M.L. Peekthong Thongyai as its new Chief Executive Officer. Thongyai outlined his vision for OR, focusing on three core missions: Seamless Mobility, All Lifestyles, and Global Market, with digital technology and innovation as the driving forces. His strategy aims to solidify Thailand’s position as a leading regional oil hub through integrated infrastructure development, guided by the principle of “They Grow, We Grow,” emphasizing sustainable mutual growth.
In his inaugural address, Peekthong Thongyai reaffirmed OR’s commitment to “Empowering All toward Inclusive Growth” and the continued evolution of its SDG-driven initiatives. These initiatives focus on:
- S (Small): Creating opportunities for small and local entrepreneurs.
- D (Diversified): Expanding investments across diverse sectors to strengthen core operations.
- G (Green): Prioritizing environmental sustainability, including achieving carbon neutrality by 2030 and Net Zero by 2050. OR’s existing green initiatives include the Thaidet project, Café Amazon for Chance, and Solar Roof installations at PTT Stations.
OR is leveraging Digitalization & Innovation to enhance operational strength. The company has already implemented the SAP S/4 HANA system and developed a Control Tower Dashboard for optimized management and decision-making.
Key Strategic Focus Areas:
- Seamless Mobility: Expanding its service station network, improving infrastructure, and transitioning to alternative energy sources like EV Station PluZ and solar energy solutions, shifting from a fossil-based to a new energy-based approach under its “Thailand’s Mobility Partner” strategy.
- All Lifestyles: Strengthening the Café Amazon value chain, exploring F&B investment opportunities, and evaluating expansion into sectors like Health & Wellness.
- Global Market: Prioritizing investments in high-potential international markets and strengthening its infrastructure footprint abroad.
OR will drive Thailand’s transformation into a regional oil hub through strategic investments in comprehensive infrastructure, connecting international oil networks, and fostering a robust business ecosystem.
“In this era of rapid change, success requires building internal strength while driving growth across business, society, and the environment,” said Thongyai. “The ‘They grow, We grow’ philosophy will cultivate trust and open communication, exemplified by initiatives like the “CEO on tour” project, engaging all stakeholders, including government agencies, employees, partners, investors, and the media.”
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31 January 2025Businesshttps://www.thestorythailand.com/?p=147006 - KBank and BAM invest 1 billion baht in ARUN AMC to tackle bad debt
KASIKORNBANK (KBank) and Bangkok Commercial Asset Management (BAM) have partnered to launch ARUN Asset Management Company
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KASIKORNBANK (KBank) and Bangkok Commercial Asset Management (BAM) have partnered to launch ARUN Asset Management Company (ARUN AMC), a 1 billion Baht joint venture aimed at revitalizing distressed debt and supporting struggling borrowers.
This initiative aligns with the Bank of Thailand’s policy encouraging joint ventures to address non-performing loans (NPLs) and foster a sustainable credit ecosystem, ultimately benefiting the Thai economy.
“With Thailand’s gradual economic recovery and persistent household debt challenges, coupled with the central bank’s focus on NPL solutions, KBank and BAM have established ARUN AMC,” said Chongrak Rattanapian, President of KBank. “This partnership will enhance NPL management efficiency and bolster KBank’s financial strength. We will also share in ARUN AMC’s profits as a 50% shareholder through KASIKORN VISION (KVision). The goal is to improve debtors’ financial liquidity, enabling them to restructure debt and sustain their livelihoods and businesses, contributing positively to the overall economy.”
Bunyong Visatemongkolchai, Vice Chairman and Acting CEO of BAM, highlighted ARUN AMC’s 1 billion Baht initial capital, shared equally by KBank and BAM. “BAM’s leadership in asset management, combined with our expertise in NPL resolution and long-standing partnership with KBank, makes this venture ideal,” he stated. “ARUN AMC aligns with BAM’s mission to revitalize assets, support debtors, and enhance the value of the second-hand property market, strengthening both KBank and BAM.”
Somchai Tanurukpairoj, CEO of ARUN AMC, outlined the company’s plan to acquire 50-60 billion Baht in NPLs from KBank. “Our expert team will work to restore debtors’ financial health, enabling them to recover and preserve their assets,” he explained. “We will also adhere to government debt relief measures, including the ‘You Fight, We Help’ program, ensuring continued support for KBank’s debtors even after their loans are transferred to ARUN AMC.”
ARUN AMC’s vision is “Being a light for debtors to overcome their financial crises.” By leveraging the combined strengths of KBank and BAM, the company aims to operate efficiently, manage costs effectively, and deliver strong returns for shareholders. ARUN AMC received its asset management company registration on December 26, 2024.
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31 January 2025Businesshttps://www.thestorythailand.com/?p=146975 - Emirates opens its most expansive lounge, 2nd only to Dubai at Suvarnabhumi Airport
Emirates has officially opened its new lounge at Bangkok’s Suvarnabhumi Airport, Satellite 1 Terminal (SAT-1)
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Emirates has officially opened its new lounge at Bangkok’s Suvarnabhumi Airport, Satellite 1 Terminal (SAT-1), marking a significant upgrade for premium travelers. The move to the airport’s newest terminal and a $5 million refurbishment have created Emirates’ largest international lounge outside of Dubai.
Spanning an impressive 1,454 square meters, the lounge boasts a capacity of 250 guests, comfortably accommodating passengers on two simultaneous A380 departures. First and Business Class passengers, along with Skywards members*, can indulge in pre-flight relaxation with luxurious seating, gourmet dining options, and a tranquil ambiance. Amenities include shower spas, complimentary Wi-Fi, and a diverse menu featuring local Thai delicacies alongside international fare and classic Thai desserts.
Emirates is among the first airlines to operate from SAT-1, providing seamless access for passengers on its six daily flights from Bangkok to Dubai and Hong Kong. The lounge, located on the fourth floor, is a mere five-minute walk from the boarding gates.
This latest addition brings Emirates’ global lounge network to 41 locations, including seven at Dubai International Airport and 34 across its worldwide destinations. Eligible passengers also have access to partner lounges in select locations.
Commitment to Thailand
As Emirates approaches its 35th anniversary of service to Thailand, the airline reaffirms its dedication to supporting the country’s tourism and business sectors. Operating five daily flights between Dubai and Bangkok (using a mix of A380s and Boeing 777s), double daily flights to Phuket, and a daily service to Hong Kong, Emirates offers substantial connectivity.
Emirates holds the largest cabin capacity of any international carrier serving Bangkok, providing over 870 First and Business Class seats daily. This significant premium capacity underscores Emirates’ leadership in luxury travel to and from Bangkok, driving the need for an expanded lounge facility.
Bangkok’s status as Emirates’ second-largest destination for premium seat capacity highlights the strong demand for upscale travel experiences.
Beyond the Flight
Emirates’ premium experience extends beyond the aircraft. First and Business Class passengers enjoy complimentary Chauffeur-drive service within a 60-km radius of Suvarnabhumi Airport**, dedicated check-in counters, and an unparalleled onboard experience on the A380. This includes the iconic Onboard Lounge, private First Class suites, a Shower Spa, and the award-winning ice entertainment system with over 6,500 channels.
Gartner forecasts worldwide IT spending to grow 9.8% in 2025
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31 January 2025New Product/Servicehttps://www.thestorythailand.com/?p=146963 - Gartner forecasts worldwide IT spending to grow 9.8% in 2025
Worldwide IT spending is expected to total $5.61 trillion in 2025, an increase of 9.8% from 2024
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Worldwide IT spending is expected to total $5.61 trillion in 2025, an increase of 9.8% from 2024, according to the latest forecast by Gartner, Inc.
IT spending in Thailand is projected to reach almost 996 billion THB (US$29 billion) in 2025, an increase of 7.9% from 2024, according to the latest forecast by Gartner, Inc. Spending on data centres will see the largest growth with an increase of almost 17% expected in 2025, followed closely by software (16.1%).
“While budgets for CIOs are increasing, a significant portion will merely offset price increases within their recurrent spending,” said John-David Lovelock, Distinguished VP Analyst at Gartner. “This means that, in 2025, nominal spending versus real IT spending will be skewed, with price hikes absorbing some or all of budget growth. All major categories are reflecting higher-than-expected prices, prompting CIOs to defer and scale back their true budget expectations.”
GenAI will Influence IT Spending, but IT Spending Won’t Be on GenAI Itself
Segments including data center systems, devices and software will see double-digit growth in 2025, largely due to generative AI (GenAI) hardware upgrades. However, these upgraded segments will not differentiate themselves in terms of functionality yet, even with new hardware.
“GenAI is sliding toward the trough of disillusionment which reflects CIOs declining expectations for GenAI, but not their spending on this technology,” said Lovelock. “For instance, the new AI ready PCs do not yet have ‘must have’ applications that utilize the hardware. While both consumers and enterprises will purchase AI-enabled PC, tablets and mobile phones, those purchases will not be overly influenced by the GenAI functionality.”
Spending on AI-optimized servers easily doubles spending on traditional servers in 2025, reaching $202 billion dollars.
“IT services companies and hyperscalers account for over 70% of spending in 2025,” said Lovelock. “By 2028, hyperscalers will operate $1 trillion dollars’ worth of AI optimized servers, but not within their traditional business model or IaaS Market. Hyperscalers are pivoting to be part of the oligopoly AI model market.”
Gartner’s IT spending forecast methodology relies heavily on rigorous analysis of the sales by over a thousand vendors across the entire range of IT products and services. Gartner uses primary research techniques, complemented by secondary research sources, to build a comprehensive database of market size data on which to base its forecast.
The Gartner quarterly IT spending forecast delivers a unique perspective on IT spending across the hardware, software, IT services and telecommunications segments. These reports help Gartner clients understand market opportunities and challenges.
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30 January 2025Businesshttps://www.thestorythailand.com/?p=146896