The State Railway of Thailand is paying a consultancy 85 million baht to help it prepare for its Airport Rail Link.
The overseas consultancy would train 450 staff and draw up instructions and regulations for the system, which would shuttle between the inner city and Suvarnabhumi airport from next April.
SRT chairman Thawalrat Onsira said the SRT board voted yesterday to hire DB International GmbH (DBI) for 85 million baht.
The consultancy would test the Airport Rail Link and train airport link staff over the course of its nine-month contract. It would also draw up instructions and regulations to run the trains.
Chulalongkorn University's Sasin Graduate Institute of Business Administration would recruit 450 staff for the SRT to operate the Airport Rail Link in particular, and the consultants would train them.
The SRT wanted to hire SRT, Bangkok Mass Transit System Plc (BTS) and Bangkok Metro Plc staff. The latter two operate electric railways in Bangkok.
Mr Thawalrat said construction company B Grimm International would hand the Airport Rail Link system together with trains to the SRT on Nov 6 this year and the first tentative operation was set for Dec 5.
After the one-day trial, officials would evaluate the operation and then resume trial runs from Dec 15 to April next year, when the service would open.
The number of passengers would be limited during the trial operation.Tickets would be distributed first to workers at Suvarnabhumi airport while the public could seek tickets at main stations of the link. Express trains would operate between Makkasan and the airport, a 15-minute journey without stops, while a trip on ordinary trains with stops at all stations en route would take 30 minutes.
The SRT would ask the cabinet to decide whether to support its plan to set up a subsidiary to run the Airport Rail Link or back the SRT labour union's demand for the state enterprise to establish a business unit to run the railway.
Meanwhile, the Mass Rapid Transit Authority (MRTA) yesterday signed a contract to hire CKTC Joint Venture for 14.29 billion baht to build the eastern section of the Purple Line electric railway from Bang Sue to Phra Nang Klao Bridge.
MRTA chairman Supoj Saplom said the contractor, made up of Ch Karnchang Plc and Tokyu Construction Co, would start construction in 60 days,with work lasting 3.5 to four years.
The eastern section would extend from the MRTA's present subway end in Bang Sue to Phra Nang Klao Bridge.
The MRTA would sign two more contracts for the rest of the Purple Line project, opening in 2014.
The second contract was for the 11km elevated western section across the Chao Phraya River from Phra Nang Klao Bridge to Klong Bang Phai canal in Nonthaburi's Bang Yai district.
Sino-Thai Engineering and Construction won the work, quoted at 15.32 billion baht.
The last contract is for a train depot and four park-and-ride buildings, won by PAR Joint Venture, which quoted 6.4 billion baht.
Wednesday, August 26, 2009
Tuesday, August 25, 2009
Two leave law firm over insider trading
Baker & McKenzie has removed Ratchanon Piriyapongpan and Saowapak Arunvej from the law firm after securities regulators late last week accused the two of insider trading.
The Securities and Exchange Commission said Baker & McKenzie was appointed a legal adviser for Grande Asset Development in March 2006. Mr Ratchanon, acting as the head of the legal team, was privy to market-sensitive information related to investments by GRAND, which was only disseminated to the public on June 30,2006. Prior to the public announcement, Mr Ratchanon directed Ms Saowapak, his secretary, to transact a total of 7.56 million GRAND shares at prices ranging from 2.96 to 4.70 baht per share.
The SEC fined Mr Ratchanon, formerly named Wisit Kanjanopas,6.68 million baht and Ms Saowapak 330,000 baht for insider trading violations in the case.
Baker & McKenzie yesterday disavowed any knowledge of the incident.
"Baker & McKenzie would like to clari-fy that the acts of the two individuals were entirely conducted in their personal capacities, without knowledge or involvement of the management of the firm,"the firm said in a statement.
"We profoundly regret that the incident arose from the acts of a legal consultant and a member of staff, whose conduct, albeit in a personal capacity,may nevertheless impact upon the trust and integrity of the firm, especially in respect of legal work in the field of capital markets and related areas."
The Securities and Exchange Commission said Baker & McKenzie was appointed a legal adviser for Grande Asset Development in March 2006. Mr Ratchanon, acting as the head of the legal team, was privy to market-sensitive information related to investments by GRAND, which was only disseminated to the public on June 30,2006. Prior to the public announcement, Mr Ratchanon directed Ms Saowapak, his secretary, to transact a total of 7.56 million GRAND shares at prices ranging from 2.96 to 4.70 baht per share.
The SEC fined Mr Ratchanon, formerly named Wisit Kanjanopas,6.68 million baht and Ms Saowapak 330,000 baht for insider trading violations in the case.
Baker & McKenzie yesterday disavowed any knowledge of the incident.
"Baker & McKenzie would like to clari-fy that the acts of the two individuals were entirely conducted in their personal capacities, without knowledge or involvement of the management of the firm,"the firm said in a statement.
"We profoundly regret that the incident arose from the acts of a legal consultant and a member of staff, whose conduct, albeit in a personal capacity,may nevertheless impact upon the trust and integrity of the firm, especially in respect of legal work in the field of capital markets and related areas."
Friday, August 21, 2009
More food-safety data online
Chicken exporters have applauded the Livestock Development Department for its livestock traceability system and online service programme to assure foreign buyers about the safety standards of Thai products.
Nikorn Jamnong (second from right), an adviser to the agriculture minister, and Yukol Limlaemthong (right), directorgeneral of the Livestock Development Department, watch a demonstration of the e-service and traceability system of chicken companies.
"The programme will improve confidence among importers and that is a significant factor to increase the exports of Thailand's poultry, especially chicken meat," said Anan Sirimongkolkasem, president of the Thai Broiler Processing Exporters Association.
Thailand's chicken industry, fresh meat exports in particular, were damaged severely by the bird flu outbreak five years ago. The export volume of raw chicken meat fell almost to zero in 2004, from 480,000 tonnes shipped the year before.
The traceability system and new compartmentalised farming methods have been applied by many Thai chicken companies to assure domestic and foreign consumers of product quality.
Yukol Limlaemthong, the director-general of the Livestock Development Department, said that competition was very stiff in the livestock products market, in particular exported chicken meat.
"Many countries have imposed non-tariff trade barriers with specifications of product quality and traceability of food safety throughout the entire process, both in the manufacturing and food chains for consumer safety, being required," he said.
According to Mr Yukol, the traceability system allows for monitoring of livestock products from the beginning of breeding, feeding, manufacturing and processing through distribution to consumers.
The department has developed an electronic system and database for prod uct quality control that is connected with the systems of chicken companies and others in the food chains
The department also provides e-service, which allows traders to file service request forms efficiently.
Previously, it had offered e-movement, allowing traders or manufacturers who need to move animals and carcasses to seek permission from the department via the internet.
The implementation of the traceability system, which has become a common requirement from import countries, will help Thailand to maintain its leading position in the world chicken export industry, said Mr Yukol.
The Thai Broiler Processing Exporters Association has revised up the country's chicken export forecast this year to between 370,000 and 380,000 tonnes after an encouraging first half.
Relate Search: Chicken exporters, Livestock Development Department, Thai Broiler Processing Exporters Association
Nikorn Jamnong (second from right), an adviser to the agriculture minister, and Yukol Limlaemthong (right), directorgeneral of the Livestock Development Department, watch a demonstration of the e-service and traceability system of chicken companies.
"The programme will improve confidence among importers and that is a significant factor to increase the exports of Thailand's poultry, especially chicken meat," said Anan Sirimongkolkasem, president of the Thai Broiler Processing Exporters Association.
Thailand's chicken industry, fresh meat exports in particular, were damaged severely by the bird flu outbreak five years ago. The export volume of raw chicken meat fell almost to zero in 2004, from 480,000 tonnes shipped the year before.
The traceability system and new compartmentalised farming methods have been applied by many Thai chicken companies to assure domestic and foreign consumers of product quality.
Yukol Limlaemthong, the director-general of the Livestock Development Department, said that competition was very stiff in the livestock products market, in particular exported chicken meat.
"Many countries have imposed non-tariff trade barriers with specifications of product quality and traceability of food safety throughout the entire process, both in the manufacturing and food chains for consumer safety, being required," he said.
According to Mr Yukol, the traceability system allows for monitoring of livestock products from the beginning of breeding, feeding, manufacturing and processing through distribution to consumers.
The department has developed an electronic system and database for prod uct quality control that is connected with the systems of chicken companies and others in the food chains
The department also provides e-service, which allows traders to file service request forms efficiently.
Previously, it had offered e-movement, allowing traders or manufacturers who need to move animals and carcasses to seek permission from the department via the internet.
The implementation of the traceability system, which has become a common requirement from import countries, will help Thailand to maintain its leading position in the world chicken export industry, said Mr Yukol.
The Thai Broiler Processing Exporters Association has revised up the country's chicken export forecast this year to between 370,000 and 380,000 tonnes after an encouraging first half.
Relate Search: Chicken exporters, Livestock Development Department, Thai Broiler Processing Exporters Association
Thursday, August 20, 2009
LUCY IN THE SKY WITH 80s DENIM
Travelling back to like, totally, the gnarly and tubular 80s, here's what Sheikh
Hot Kotture is casting her psychedelic fashionista's eye on this week...
Acid washed denim is making a comeback.If you've started to sprout unwanted white hairs within the last few years then you may know that bleached garments were an iconic trend of the 1980s.They symbolised the experimental youth of that decade, as they wavered between hope and pessimism, and ideas of right and wrong.Err, or maybe they just liked playing with bleach (and other substances).
80s fashion has been endlessly mocked - think scrunchies, big hair, neon legwarmers - so of course the first question is why do we keep teasing ourselves with that era? It's like continuously eating green prik khee noo even though it burns like syphilis every time.
Perhaps our fascination with the 80s is that it beats out every previous and subsequent generation in the battle of the decades.Oh wow, what a bold statement Sheikh Hot Kotture , you may be thinking.Well, excuse moi , but you can suck it!Sorry, that reply wouldn't pass in a court of law, so allow me to rephrase: While the 80s did give us questionable fashion and music, the world also changed at this time.
As the globe witnessed the fall of the Berlin Wall, the first woman in space, the identification of AIDS, and the death of John Lennon among other events, Bangkok experienced a massive economic boom.
So obviously, that outdoes any other human achievement ever! And although it's not scientifically proven, methinks money makes people frisky, since Bangkok also saw its population increase in the 1980s from a few million to like, loads of millions more!
Yes, sorry to break it to you, dear readers,for many of us (myself included) we are merely a birth statistic on the face of the 1980s.
Wearing acid washed denim proudly is one small way to keep the spirit of that generation alive. Or you can just wear a t-shirt that says,"In the 2000s, China Rules the World; In the 1980s Duran Duran,Culture Club and People With Chairs Up Their Noses Rule the World - Where Do You Want To Be?"
If you didn't have a chair up your nose throughout the 80s (yes, besides being the name of an 80s band, I'm using it as a euphemism here - use your imagination), you may remember that the acid wash technique was first commercialised in 1986 by an Italian company (Rifle Jeans), but another Italian company (Candida Laundry)patented the process in the same year. No word if the competing companies threw a bucket of acid on each other in anger.
The acid wash process is unique as chemicals are used to strip colour off the top layer of denim. Denim in itself is a durable cotton twill fabric,which is traditionally dyed indigo.Thus, the result of the acid wash is exposed white fabric, which can be seen all over a garment or on parts of it. The wash can be applied to anything from denim jeans to jackets,dresses, shorts, shirts, or skirts. On top of that, you can fray the apparel and make holes in strategically placed parts to give it that tattered, yet funky and individual look.
Acid washed denim doesn't have to be reminiscent of its big-haired 80s counterpart, as the modern wash isn't as splotchy as before, focusing on lighter denim, such as baby blue and grey.
The trippy look can be completely updated by pairing the denim with neutral colours, such as black, white, and brown,or a crisp button-down Oxford shirt, and staying away from bright hues.
Wait, on second thought, if Sheikh Hot
Kotture really has to explain how to wear denim, perhaps you need to go back to Prathom 1 and decline taking your after-lunch nap so you have more time to learn that jeans go with everything.
What Sheikh Hot Kotture will tell you is that, these days, the continuation of a trend can be measured by one very simple test:"Can I wear this with glad-ator shoes?"
If the answer is a resounding yes, then by golly, we've got a style revolution on our hands!(Hint: Acid washed jeans look friggin' awesome with gladiator heels.).
However, one viewpoint that should be taken into consideration is that by clinging to fashion of the past, designers and trendsetters give off the appearance that they lack any semblance of original thought.
Oh, sorry, was that a bit too harsh? What I meant to say was that today's fashion is unoriginal and takes on a copycat nature. By Jove, I did it again!
Granted, it's the nature of fashion trends to resurge every couple of seasons, so perhaps by turning to yesteryear, people are clinging to a more revolutionary past. Fashion can be powerful, you know.
If the Bangkokian mentality is anything to go by, we're not thinking about how simple denim apparel speaks volumes about a decade. We're just clinging to our obsessive need to have an external "it" item to look to. And that's what defines our generation-for better or worse.G
DIY ACID DENIM
Say "yes" to acid washed denim with these DIY tips. Remember to wear gloves and a mask, and do this in a well-ventilated area - like outside, duh!
1. Play Murray Head's 1984 hit "One Night in Bangkok" to get you in the mood.
2. Soak denim garment in lukewarm water; wring out excess water.
3. Mix bleach and water in a spray bottle (or soak pumice stone in bleach).
4. Spray (or rub) mixture on front and back of denim. Do this in less than 10 minutes, because the clothing can disintegrate or turn completely white.
5. Rinse garment thoroughly then machine wash.
Hot Kotture is casting her psychedelic fashionista's eye on this week...
Acid washed denim is making a comeback.If you've started to sprout unwanted white hairs within the last few years then you may know that bleached garments were an iconic trend of the 1980s.They symbolised the experimental youth of that decade, as they wavered between hope and pessimism, and ideas of right and wrong.Err, or maybe they just liked playing with bleach (and other substances).
80s fashion has been endlessly mocked - think scrunchies, big hair, neon legwarmers - so of course the first question is why do we keep teasing ourselves with that era? It's like continuously eating green prik khee noo even though it burns like syphilis every time.
Perhaps our fascination with the 80s is that it beats out every previous and subsequent generation in the battle of the decades.Oh wow, what a bold statement Sheikh Hot Kotture , you may be thinking.Well, excuse moi , but you can suck it!Sorry, that reply wouldn't pass in a court of law, so allow me to rephrase: While the 80s did give us questionable fashion and music, the world also changed at this time.
As the globe witnessed the fall of the Berlin Wall, the first woman in space, the identification of AIDS, and the death of John Lennon among other events, Bangkok experienced a massive economic boom.
So obviously, that outdoes any other human achievement ever! And although it's not scientifically proven, methinks money makes people frisky, since Bangkok also saw its population increase in the 1980s from a few million to like, loads of millions more!
Yes, sorry to break it to you, dear readers,for many of us (myself included) we are merely a birth statistic on the face of the 1980s.
Wearing acid washed denim proudly is one small way to keep the spirit of that generation alive. Or you can just wear a t-shirt that says,"In the 2000s, China Rules the World; In the 1980s Duran Duran,Culture Club and People With Chairs Up Their Noses Rule the World - Where Do You Want To Be?"
If you didn't have a chair up your nose throughout the 80s (yes, besides being the name of an 80s band, I'm using it as a euphemism here - use your imagination), you may remember that the acid wash technique was first commercialised in 1986 by an Italian company (Rifle Jeans), but another Italian company (Candida Laundry)patented the process in the same year. No word if the competing companies threw a bucket of acid on each other in anger.
The acid wash process is unique as chemicals are used to strip colour off the top layer of denim. Denim in itself is a durable cotton twill fabric,which is traditionally dyed indigo.Thus, the result of the acid wash is exposed white fabric, which can be seen all over a garment or on parts of it. The wash can be applied to anything from denim jeans to jackets,dresses, shorts, shirts, or skirts. On top of that, you can fray the apparel and make holes in strategically placed parts to give it that tattered, yet funky and individual look.
Acid washed denim doesn't have to be reminiscent of its big-haired 80s counterpart, as the modern wash isn't as splotchy as before, focusing on lighter denim, such as baby blue and grey.
The trippy look can be completely updated by pairing the denim with neutral colours, such as black, white, and brown,or a crisp button-down Oxford shirt, and staying away from bright hues.
Wait, on second thought, if Sheikh Hot
Kotture really has to explain how to wear denim, perhaps you need to go back to Prathom 1 and decline taking your after-lunch nap so you have more time to learn that jeans go with everything.
What Sheikh Hot Kotture will tell you is that, these days, the continuation of a trend can be measured by one very simple test:"Can I wear this with glad-ator shoes?"
If the answer is a resounding yes, then by golly, we've got a style revolution on our hands!(Hint: Acid washed jeans look friggin' awesome with gladiator heels.).
However, one viewpoint that should be taken into consideration is that by clinging to fashion of the past, designers and trendsetters give off the appearance that they lack any semblance of original thought.
Oh, sorry, was that a bit too harsh? What I meant to say was that today's fashion is unoriginal and takes on a copycat nature. By Jove, I did it again!
Granted, it's the nature of fashion trends to resurge every couple of seasons, so perhaps by turning to yesteryear, people are clinging to a more revolutionary past. Fashion can be powerful, you know.
If the Bangkokian mentality is anything to go by, we're not thinking about how simple denim apparel speaks volumes about a decade. We're just clinging to our obsessive need to have an external "it" item to look to. And that's what defines our generation-for better or worse.G
DIY ACID DENIM
Say "yes" to acid washed denim with these DIY tips. Remember to wear gloves and a mask, and do this in a well-ventilated area - like outside, duh!
1. Play Murray Head's 1984 hit "One Night in Bangkok" to get you in the mood.
2. Soak denim garment in lukewarm water; wring out excess water.
3. Mix bleach and water in a spray bottle (or soak pumice stone in bleach).
4. Spray (or rub) mixture on front and back of denim. Do this in less than 10 minutes, because the clothing can disintegrate or turn completely white.
5. Rinse garment thoroughly then machine wash.
Inspection firm eyes Middle East
Qualitech Plc, a listed inspection and non-destructive testing specialist, plans to team up with a foreign partner to expand to the Middle East next year.
QLT managing director Sannpat Rattakham said the company expected 10%revenue growth this year from 245 million baht posted last year.
The company booked second-quarter profits of 16.09 million baht, up from 9.69 million in the same period last year.First-half profits rose year-on-year to 34.6 million baht from 21.51 million last year.
Mr Sannpat said the company had a backlog of 220 million baht as of June,with 130 million expected to be realised in the second half of the year and the rest in 2010. Services revenue in the first half totalled 134.6 million baht, up from 109.46 million in the same period last year.
Among the company's ongoing projects is a testing mandate for a gas pipeline project running from Rayong to Kaeng Khoi. QLT expects to book 13 million baht in revenues from the project.
"Even though our project revenues are relatively small, we can maintain the gross profit margin at a high 40%and net profit margin at 20% to 25%. We can maintain these rates thanks to our skills and experience, and our strong customers such as Chevron and other leading energy firms," Mr Sannpat said.
He said the company was in talks with two or three potential partners to expand its non-destructive testing services to the Middle East. The project is expected to be finalised this year and begin operations in 2010.
"Investing in the Middle East is challenging. Several companies have tried to expand to the region and have lost,"Mr Sannpat said.
"We will bring in a partner with extensive experience in the region. We are quite optimistic of success."
Shares of QLT on the Market for Alternative Investment closed yesterday at 4.24 baht, down four satang, in trade worth 1.15 million baht. The company listed on the MAI in June with an initial public offering price of four baht per share.
QLT managing director Sannpat Rattakham said the company expected 10%revenue growth this year from 245 million baht posted last year.
The company booked second-quarter profits of 16.09 million baht, up from 9.69 million in the same period last year.First-half profits rose year-on-year to 34.6 million baht from 21.51 million last year.
Mr Sannpat said the company had a backlog of 220 million baht as of June,with 130 million expected to be realised in the second half of the year and the rest in 2010. Services revenue in the first half totalled 134.6 million baht, up from 109.46 million in the same period last year.
Among the company's ongoing projects is a testing mandate for a gas pipeline project running from Rayong to Kaeng Khoi. QLT expects to book 13 million baht in revenues from the project.
"Even though our project revenues are relatively small, we can maintain the gross profit margin at a high 40%and net profit margin at 20% to 25%. We can maintain these rates thanks to our skills and experience, and our strong customers such as Chevron and other leading energy firms," Mr Sannpat said.
He said the company was in talks with two or three potential partners to expand its non-destructive testing services to the Middle East. The project is expected to be finalised this year and begin operations in 2010.
"Investing in the Middle East is challenging. Several companies have tried to expand to the region and have lost,"Mr Sannpat said.
"We will bring in a partner with extensive experience in the region. We are quite optimistic of success."
Shares of QLT on the Market for Alternative Investment closed yesterday at 4.24 baht, down four satang, in trade worth 1.15 million baht. The company listed on the MAI in June with an initial public offering price of four baht per share.
IBM's new business advice
IBM has announced the creation of a new business unti to provide consilting services to business and industry.
Called Business Analytics and Optimisation (BAO), the new unit will draw on IBM's expertise in vertical industries, research, mathematics and information management, as well as its understanding of the consequences and outcomes of business decisions, to help clients improve both the speed and the quality of their decision-making.
A recent survey by IBM's Institute for Business Value reported one in two business leaders said they did not have access to the information in their organisation they needed to do their job.
With organisations facing unprecedented scrutiny, pressure and ever-shrinking margins for eroor, leaders are looking for new ways to inject certainty and predictability into their decision-making.
The survey also showed eight out of 10 business leaders made major decisions even though information was either missing or not trusted.
Shyam Mamidi, IBM Asean Global Business Services' line leader for business analytics and optimisation, said the BAO service brought reinforcements to the framework and supported it with information and measures to bring visibility to decisionmakers.
The firm will offer BAO services in five primary areas: BAO strategy, business intelligence and performance management, advanced analytics and optimisation, enterprise information management and enterprise content management.
It will also focus on various industries such as financial services, telecommunications, manyfacturing and distribution.
Called Business Analytics and Optimisation (BAO), the new unit will draw on IBM's expertise in vertical industries, research, mathematics and information management, as well as its understanding of the consequences and outcomes of business decisions, to help clients improve both the speed and the quality of their decision-making.
A recent survey by IBM's Institute for Business Value reported one in two business leaders said they did not have access to the information in their organisation they needed to do their job.
With organisations facing unprecedented scrutiny, pressure and ever-shrinking margins for eroor, leaders are looking for new ways to inject certainty and predictability into their decision-making.
The survey also showed eight out of 10 business leaders made major decisions even though information was either missing or not trusted.
Shyam Mamidi, IBM Asean Global Business Services' line leader for business analytics and optimisation, said the BAO service brought reinforcements to the framework and supported it with information and measures to bring visibility to decisionmakers.
The firm will offer BAO services in five primary areas: BAO strategy, business intelligence and performance management, advanced analytics and optimisation, enterprise information management and enterprise content management.
It will also focus on various industries such as financial services, telecommunications, manyfacturing and distribution.
Downturn leads to gain in demand
The financial crisis has lifted demand for global payments and cash management services as firms seek to improve efficiency in their payment systems, says Thailand's oldest bank.
Growth in cash management transactions across the region has risen by 10-20% the past few years, said John Laurens, head of Asia-Pacific global payments and cash management for HSBC.
"China is a fascinating case. Development there has been very fast, with a jump from cash to electronic payments,skipping right over cheque payments,"he said."India is similar, where epayments are growing very quickly."
In Thailand, e-payments and cash management transactions have doubled over the past few years, with remittance activities now at all-time highs.
Mr Laurens said Thailand and other markets in the region were clearly paying greater attention to cash management and treasury services, adding that HSBC was very bullish about growth prospects for the local market.
HSBC, one of the largest banks in the world and the oldest bank in Thailand,focuses not only on large multinational companies but also mid-sized businesses which conduct overseas transactions.Payment volume through HSBC's Thai branch is equally split between foreign and local clients.
Mr Laurens said last year's collapse of Lehman Brothers and other financial institutions resulted in companies paying greater attention to counterparty risk.
HSBC has been a beneficiary of the fallout and turmoil in the financial markets, he said, as customers have flocked to the bank based on its solid capital base and global network.
"One of our advantages is that the bank has various systems that can match with the different technology platforms of our customers," Mr Laurens said.
HSBC not only provided cash management and payment services, but assists clients in "re-engineering payment behaviour," he said.
In the insurance sector, the bank was helping clients change from traditionally receiving premiums in cash to bankbased transactions and e-payments.
Growth in cash management transactions across the region has risen by 10-20% the past few years, said John Laurens, head of Asia-Pacific global payments and cash management for HSBC.
"China is a fascinating case. Development there has been very fast, with a jump from cash to electronic payments,skipping right over cheque payments,"he said."India is similar, where epayments are growing very quickly."
In Thailand, e-payments and cash management transactions have doubled over the past few years, with remittance activities now at all-time highs.
Mr Laurens said Thailand and other markets in the region were clearly paying greater attention to cash management and treasury services, adding that HSBC was very bullish about growth prospects for the local market.
HSBC, one of the largest banks in the world and the oldest bank in Thailand,focuses not only on large multinational companies but also mid-sized businesses which conduct overseas transactions.Payment volume through HSBC's Thai branch is equally split between foreign and local clients.
Mr Laurens said last year's collapse of Lehman Brothers and other financial institutions resulted in companies paying greater attention to counterparty risk.
HSBC has been a beneficiary of the fallout and turmoil in the financial markets, he said, as customers have flocked to the bank based on its solid capital base and global network.
"One of our advantages is that the bank has various systems that can match with the different technology platforms of our customers," Mr Laurens said.
HSBC not only provided cash management and payment services, but assists clients in "re-engineering payment behaviour," he said.
In the insurance sector, the bank was helping clients change from traditionally receiving premiums in cash to bankbased transactions and e-payments.
BMA mops up water cheats
The Bangkok Metropolitan Administration is threatening tough legal action against owners of unlicensed water vending machines.
Many of the machines, which dispense filtered drinking water at cheap prices,have been found to be unlicensed. A licence only costs 20 baht per machine.
BMA spokesman Tharadol Piampongsan said there were 2,814 water machines in communities around Bangkok, and only 62 have been registered.
City Hall will clamp down on the illegal machines. Machine owners who do not have a licence will face a 10,000 baht fine and a jail term of up to six months,Mr Tharadol said.
The licence fee will be raised from 20 baht to 1,000 baht.
Many machines lacked proper maintenance and were dirty, he said.
Wanthanee Wattana, deputy director of BMA's Health Department, said the stiff penalties would force the machine owners to comply with maintenance and hygiene requirements.
Many of the machines, which dispense filtered drinking water at cheap prices,have been found to be unlicensed. A licence only costs 20 baht per machine.
BMA spokesman Tharadol Piampongsan said there were 2,814 water machines in communities around Bangkok, and only 62 have been registered.
City Hall will clamp down on the illegal machines. Machine owners who do not have a licence will face a 10,000 baht fine and a jail term of up to six months,Mr Tharadol said.
The licence fee will be raised from 20 baht to 1,000 baht.
Many machines lacked proper maintenance and were dirty, he said.
Wanthanee Wattana, deputy director of BMA's Health Department, said the stiff penalties would force the machine owners to comply with maintenance and hygiene requirements.
NAN COMMUNITIES SEEKING OTHER INVESTMENT OPTIONS
Fearing possible corruption within new community development projects, local communities in Nan municipality are seeking to invest in schemes other than those involving solar-powered water vending machines.
The other projects include solar-powered streetlights and the production of bio-fertilisers, mayor Suraphol Thiansoot said. He also said several businessmen had earlier tried to convince villagers into buying water-vending machines or investing in projects that did not serve their needs.
Suraphol said he had helped "educate" villagers about the so-called "Self-Sufficiency Community" project and explained loopholes that would protect them from subsequent "civil and criminal penalties" if they agreed to implement projects that were mired in corruption.
Chairat Srisuk, head of a community fund in the municipality, said villagers had decided to go for other projects after news emerged about the controversy.
"Now they can use the Bt250,000 allocated for projects other than the water-vending machines," he added.
One of the projects being considered is purchasing cheaper versions of water-vending machines, that go for as little as Bt178,900 each, or going into the production of bio-fertiliser, which costs Bt200,000, he said.
Anchalee Wanichthepphabutr, a secretary to Deputy Prime Minister Korbsak Sabhavasu who oversees the sufficiency project, said all deals related to solar power would soon be officially scrapped. In addition, a median price of 20 different types of water-vending machines will be worked out and later sent to communities as a reference so they do not get talked into buying overpriced technology.
Complaints related to the project can be filed at the hotline numbers: (02) 629 8444 and (02) 629 8555.
Of the 66,000 communities nationwide, 170 of them are allowed to reconsider whether they still want to obtain solar-powered vending machines. Anchalee said projects that are allegedly mired in corruption would be further investigated, while schemes without any signs of graft would be implemented.
The other projects include solar-powered streetlights and the production of bio-fertilisers, mayor Suraphol Thiansoot said. He also said several businessmen had earlier tried to convince villagers into buying water-vending machines or investing in projects that did not serve their needs.
Suraphol said he had helped "educate" villagers about the so-called "Self-Sufficiency Community" project and explained loopholes that would protect them from subsequent "civil and criminal penalties" if they agreed to implement projects that were mired in corruption.
Chairat Srisuk, head of a community fund in the municipality, said villagers had decided to go for other projects after news emerged about the controversy.
"Now they can use the Bt250,000 allocated for projects other than the water-vending machines," he added.
One of the projects being considered is purchasing cheaper versions of water-vending machines, that go for as little as Bt178,900 each, or going into the production of bio-fertiliser, which costs Bt200,000, he said.
Anchalee Wanichthepphabutr, a secretary to Deputy Prime Minister Korbsak Sabhavasu who oversees the sufficiency project, said all deals related to solar power would soon be officially scrapped. In addition, a median price of 20 different types of water-vending machines will be worked out and later sent to communities as a reference so they do not get talked into buying overpriced technology.
Complaints related to the project can be filed at the hotline numbers: (02) 629 8444 and (02) 629 8555.
Of the 66,000 communities nationwide, 170 of them are allowed to reconsider whether they still want to obtain solar-powered vending machines. Anchalee said projects that are allegedly mired in corruption would be further investigated, while schemes without any signs of graft would be implemented.
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