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Member News provides news about AustCham member achievements and announcements
  • Monday, February 18, 2019 11:37 | Anonymous member (Administrator)



    Market Cafe Opens In New Hyatt Regency Bangkok Sukhumvit

    A contemporary new Bangkok hotel scoured the markets of traditional Thailand and emerged with the decor and a philosophical approach for the all new Market Café.

    The new restaurant in the just-opened Hyatt Regency Bangkok Sukhumvit draws on the Nana area of Bangkok’s history as an international trading and meeting center, and features a menu of real Thai cooking with bold spices and vibrant flavours, crafted by chefs who are well-versed in truly local cuisine.

    “We wanted to work with chefs who were familiar with Thai food as served to Thai people,” explained Frederik Farina, Executive Chef and Director of Food & Beverage at the hotel. “We wanted our guests to experience true Thai flavours, rather than tourist-tailored versions of dishes.”

    Although Italian by birth Frederik is fluent in Thai and familiar with the Bangkok food scene, having lived more than a decade in the city. His team consists of chefs who have worked at Thai restaurants, and even popular food stalls, around the country.

    The all-day dining spot opens with a breakfast buffet that reflects the melting pot of cuisine that surrounds the hotel. Popular Thai dishes such as noodles, Khao Niew Moo Ping (grilled pork with sticky rice) and northern Thai sausage are served live from the kitchen. Japanese curry, miso soup and grilled fish as well as tasty Indian spread with dishes such as sambar, aloo paratha, naan and crunchy samosas, sits alongside such western favourites as made to order eggs or fluffy pancakes, fresh baked goods, cereals, noodle dishes, and a huge array of tropical fruit that can be whipped into a smoothie. Gluten free pastries are always available.

    The lunch and dinner Thai menu cover all levels of the local culinary scene with a range of dishes from comfort foods such as Phad Kra Pao, a stir-fried meat or tofu dish with spicy basil that is a popular street food snack, to more traditional dishes distinct to specific regions like Tom Som Pla Kaphong, a sour sea bass soup seasoned with tamarind, ginger, spring onions, and shrimp paste. Signature dishes include steamed sea bass with lime, garlic and chili; spicy tiger prawn salad with lemongrass and chili paste; and caramelized spicy chicken wings.

    To stay true to Thai flavours they do not adjust the spice level for more sensitive palettes but do serve typical Thai side dishes, such as fresh vegetables, to provide balance to the meal. They also cater to vegetarians with the ability to adjust dishes for dietary requirements.

    The restaurant’s interior evokes the marketplace. Huge floor-to-ceiling panels of a floating market scene drawn in traditional Thai style are visible as you enter the space while long-established Thai objects from everyday life are used to decorate the restaurant. The wooden rabbits that adorn prominent shelving are an age-old tool used for grating coconuts, and are still used in some provinces today. Other household items like copper pots and vases, were picked up from markets around Thailand, as was the odd antique hidden among other everyday articles.

    “Handmade local items were important to us. Even the bowls we use in the restaurant were custom made from craftsmen in Chiang Mai,” explained Niwat Aunprueng, Senior Executive Partner of PIA, the Bangkok based firm behind the interior design.

    Market Café is open daily from 6am - 10:30pm (last order at 10pm) and can accommodate up to 158 guests, including an outdoor terrace for eight and two private rooms for 20 and 24 respectively.

    Visit hyattregencybangkoksukhumvit.com or contact +66 2 098 1234, or email bkkhr.marketcafe@hyatt.com for more information or click here to make a reservation.



  • Thursday, February 14, 2019 10:45 | Anonymous member (Administrator)



    SCG Bangkok Business Challenge @ Sasin 2019

    Paron Israsena Na Ayudhya, Director of Sasin School of Management, presided over the press conference to launch the SCG Bangkok Business Challenge @ Sasin 2019, Asia’s only global postgraduate start-up competition. The annual startup competition, which will promote Scaling Impact Through Innovation, will be held on February 21st through the 23rd, 2019, with the winning teams receiving the prestigious H.M. The King’s Award, which was graciously bestowed by His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun, as well as H.R.H. Princess Maha Chakri Sirindhorn’s Sustainability Award. There are also over US$60,000 in cash prizes.

    Dr. Suracha Udomsak, Emerging Business Director and R&D Director at SCG Chemicals, along with Pirachai Bencharongkul, Kongpan Pramoj Na Ayudhaya, Thanapong Na Ranong and other distinguished sponsors participated in the press conference at Sasin School of Management.

    Photo (L to R)

    Kongpan Pramoj Na Ayudhaya, Co-Founder and Director of the SCG Bangkok Business Challenge @ Sasin, Pirachai Bencharongkul, Investment Director of BCH Ventures (under Benchachinda Holding Group), Dr. Suracha Udomsak, Emerging Business Director and R&D Director at SCG Chemicals, Paron Israsena Na Ayudhya, Director of Sasin School of Management, Thanapong Na Ranong, Senior Vice President at Kasikornbank PCL, Norapat Phaonimmongkol, CEO of Eden Agritech Company Limited and BBC Alumni 2015 and Associate Professor Adith Cheosakul, Ph.D.



  • Wednesday, February 13, 2019 13:43 | Anonymous member (Administrator)




    China National Immigration Administration: 650 million people entered or exited the country in 2018

    In 2018, Chinese citizens entered and exited 560 million person-times, accounting for 86.1% of the total number of entry-exit personnel, a year-on-year increase of 12%, and maintained growth for 15 consecutive years. For the first time, there were 95.328 million foreigners departing from or entering China, a year-on-year increase of 11.6%. The top ten countries with the number of foreigners entering China are Myanmar (including people live on border), Vietnam (including people live on border), South Korea, Japan, the United States, Russia, Mongolia, Malaysia, the Philippines, and Singapore. The National Immigration Inspection Authorities inspected a total of 35,045 million vehicles (racks, columns, ships) of inbound and outbound transportation, an increase of 13.1% year-on-year, and the number and growth rate reached record highs. Facing the growing challenges of entry and exit personnel and transportation tools, the National Immigration Service has continually simplified border inspection procedures and innovated inspection modes.


    Source: http://www.pkfthailand.asia

  • Wednesday, February 13, 2019 09:48 | Anonymous member (Administrator)




    Thailand Real Estate Market Outlook 2019 

    Bangkok, 12 February 2019 – According to CBRE, an international property consultancy company, 2019 will be a year with significant changes in the Bangkok property market, slower growth in many sectors and an incoming wave of new supply.

    The race for rare sites is still hot with the increase in land price and scarcity of freehold land in prime locations. However, with new regulations on the horizon and new Bangkok City Plan scheduled for 2020, developers are taking a step back to assess the situation.

    NEW REGULATIONS AND UNCERTAINTIES

    Thailand’s real estate market will be facing series of changes including an increased policy rate, tighter mortgage regulations and an upcoming general election in 2019 while new land and property tax and new Bangkok City Plan are expected to come into effect in 2020.

    The new Bangkok City Plan and New Land and Property Tax, both expected to be implemented within 2020, are also in the planning stages and have not yet been finalized. Changes are expected to be significant in areas where there are intersections of mass transit lines.

    The upcoming election on 24 March 2019 will also have an effect on the economy and the progress of infrastructure projects across Thailand.

    CHALLENGES IN EXPORTS AND TOURISM

    Two key economic drivers of Thailand’s economy, exports and tourism, will be facing challenges this year. It is still uncertain whether the US-China Trade War will have a negative or positive impact on Thailand’s export industry as winning back Chinese tourists remains the biggest challenge in tourism after the boat incident in Phuket. The turn up of Chinese tourists during the Chinese New Year period will indicate their sentiment towards Thailand.

    CBRE believes that Bangkok’s tourism market is resilient and will recover quickly from the drop in Chinese tourists as it has shown its resiliency in many occasions, even bouncing back stronger after a series of political unrest in the past.

    HIGHER DOWN PAYMENTS COOL DOWN RESIDENTIAL MARKET

    The demand from speculative buyers and buy-to-rent investors will be lower due to high prices from high land cost, interest rates and higher down payments required by the Bank of Thailand, making it harder profit from rental income or resell under construction units. The market will refocus on end-user buyers and clearance of unsold units in completed buildings.

    As domestic demand shrinks, developers will turn to foreign buyers who purchase condominium units using their own funds. However, there are uncertainties in the sustainability of high reliance on foreign sales over whether these buyers will transfer units upon project completion and who will be living in these units. Foreign demand is also sensitive to the economies of their home countries. 

    HIGH COMPETITION IN THE UPPER END OF CONDOMINIUM MARKET

    CBRE is seeing many developers launching condominium projects with asking prices of over THB 300,000 per square metre and the new norm seems to be THB 250,000 per square metre. However, there will be winners and losers in the market. With a lot of options in this segment for buyers to choose from, CBRE is seeing slow sales in many projects. Unsold units in completed projects are being offered at discounted prices to clear the inventory.

    The new projects are not competing on price alone, developers have also been implementing other unique selling points in their projects to attract buyers. Home automation, rental management schemes, and mixed-use developments are some of the selling points in the market today. In this highly competitive market, CBRE believes that the winners will not be projects with the best room layouts or design, but those that can sell the right lifestyle at the right price.

    EVOLVING OFFICE DEMAND

    Following the global trend, the office market in Bangkok is changing with the trend of agile workplace and co-working space playing a major role in leasing large amounts of office space in Bangkok. The incoming new supply will also put pressure on older office buildings to renovate and upgrade their buildings to be competitive in the changing market.

    In four years, Bangkok will have seen a change in the office market as over two million square metres of office space from under construction and planned projects enter the market. CBRE has estimated that the absorption rate for Bangkok office space is approximately 200,000 square metres per year.

    RETAIL REINVENTION

    As the global retail landscape shifts towards e-commerce and online shopping, Bangkok’s retail market is gradually following the trend. Bricks-and-mortar retailers are strategising to offer something that cannot be offered online, introducing the experience-rich shopping centres or the ‘retailtainment’ destinations. Adopting omni-channels of both offline and online sales will reduce the space needed for many retailers.

    CBRE expects the retail market to be positive following the economic recovery. Occupancy rate will remain high, but there is a significant amount of future supply. Weaker centres will struggle to retain and attract tenants with the dual threat of e-commerce and future competing supply but rent will remain unchanged.

    EEC: INDUSTRIAL INCENTIVES

    The Eastern Economic Corridor (EEC) will have a much clearer picture this year when the bid for Transit Oriented Development (TOD) projects along the         high-speed train routes to EEC is finalised. CBRE believes that this will jump start Thailand’s attractiveness to foreign manufacturers and investors in the EEC. The government is also offering financial incentives and tax exemptions within the Free Zone in industrial estates to foreign manufacturers.

    It is too early to tell whether Thailand is benefitting from the Trade War between USA and China. However, CBRE has seen some interest from Chinese manufacturers who are looking to relocate their production base to Thailand in the EEC area.

    INVESTMENT SLOWDOWN

    Thailand policy rate increased for the first time in seven years, from 1.50% to 1.75%, in 19 December 2018.

    Rising interest rate will increase cost of development for property developers and slowdown domestic buyer’s activity in the property market.

    Weaker domestic demand, rising land price, and incoming supply will make property developers more cautious to both launch new projects and acquire sites in 2019.

    There will still be high demand for prime freehold sites in Bangkok, especially along the mass transit lines. Scarcity of prime sites in Bangkok’s central business district (CBD), where the record price is at THB 3.1 million per square wah on Langsuan Road, will drive up the price.

    CBRE expects to see less joint ventures between local developers with foreign partners in 2019 for residential developments as demand weaken.




  • Monday, February 11, 2019 10:33 | Anonymous member (Administrator)




    Mazars announces 2018 Financial Results

    The company’s 2018 Yearbook highlights a year of global growth and expansion and offers a vision for securing sustainable growth in a complex, fast-paced world

    Paris, 31 January – Mazars, the international, integrated and independent audit and consulting firm specialising in audit, accountancy, tax, legal and advisory services, today released its 2018 Yearbook citing total global revenues of €1.6 billion, representing an annual increase of 8.7 percent. Since 2013, Mazars has increased its global turnover by more than 50 percent. Mazars has also strengthened its teams in Australia, France and Nigeria, and expanded its global footprint this year, welcoming new members into its international integrated partnership in Palestine, Saudi Arabia and Slovenia, enabling the firm to better serve local and multinational clients alike.

    Today, Mazars comprises 23,000 professionals and over 1,000 partners, working across 310 offices in 89 countries and territories. For the past 75 years, Mazars has experienced continuous, uninterrupted growth, which the firm credits to its unique, internationally integrated model.

    “This year’s financial results underscore the resilience and effectiveness of our unique partnership model. In the last 25 years, we have been able to grow more than tenfold, from €100 million to €1.6 billion in global revenues, without ever losing our values or compromising our founding principles,” said Mazars Chairman and CEO Hervé Hélias.

    “In Thailand, Mazars had another year of impressive financial growth across our core business lines, with revenues increasing 15% to THB 306 million” announced Rob Hurenkamp, Thailand Managing Partner.

    Mazars achieved a number of significant milestones in the Thai market in 2018, becoming the first local accounting firm to become a Xero Platinum Partner, whilst also winning Xero’s Asian Regional Partner of the Year Award. Additionally, Mazars have expanded their audit service offering after being awarded an SEC public listed company audit license and commencing such audits during the year.

    Looking forward to 2019 and beyond, Mazars will continue to develop innovative solutions and services in Thailand and across Asia to better meet clients’ needs, Rob added. “We have partnered with HReasily to launch a ground-breaking cloud-based HR compliance and payroll solution on a regional basis. Our Thai team has been strengthened with the addition of IT audit and consulting capabilities, as well as German and Korean business desks. With these and other future planned developments, we are confident we will continue to strengthen our position both in Thailand and other Asian economies”.

    Against a backdrop of unprecedented change, Mazars is accelerating its own transformation to better help its clients confidently navigate a complex world. The firm is committed to being ‘MazarsForGood’ – a global citizen devoted to having a positive impact on the world and communities in which we operate.

    Hélias added, “we believe performance and responsibility go hand in hand. We are determined to continue to acquire new expertise and new talent to best serve our clients and to enhance our capabilities to foster growth for the common good.”


    For more information, please visit www.mazars.co.th.



  • Wednesday, January 30, 2019 16:03 | Anonymous member (Administrator)





    SCG joins hands with Sasin to host ‘SCG Bangkok Business

    Challenge @ Sasin 2019’

    Startup Business Plan Competition to Promote A New Generation of

    Innovation and Technology


    29 January, 2019 - SCG and Sasin School of Management will host the ‘SCG Bangkok Business Challenge @ Sasin 2019 - Scaling Impact Through Innovation’, Asia’s only global postgraduate startup competition. The winning startup will be awarded the H.M. The King’s Award, graciously bestowed by H.M. The King Maha Vajiralongkorn Bodindradebayavarangkun. All teams will compete for H.R.H. Princess Maha Chakri Sirindhorn’s Sustainability Award, as well as US$ 60,000 in prizes.

    This year, postgraduate students from 40 institutions in 19 countries over 4 continents around the world join the competition with a total of 71 teams, 40 institutions, 19 countries, including 14 teams from 10 schools in Thailand.

    The press conference to launch the ‘SCG Bangkok Business Challenge @ Sasin 2019 - Scaling Impact Through Innovation,’ will take place on Monday, 11 February 2019 from 1.30 - 3.30 pm at the Royal Hall, 1st floor at Sasin School of Management. Keynote speakers will include Dr. Suracha Udomsak, Emerging Business Director and R&D  Director at SCG Chemicals, Associate Professor Dr. Adith Cheosakul, Honorary Chair of the SCG Bangkok Business Challenge @ Sasin, Vichai Bencharongkul, President of Benchachinda Holding Co., Ltd. and Kongpan Pramoj, Co-Founder and Director of the SCG Bangkok Business Challenge @ Sasin.

    The Thailand Track, the semifinals and the finals of the SCG Bangkok Business Challenge @ Sasin 2019 will take place February 21 - 23, 2019 at Sasin School of Management. For more information, please visit http://bbc.sasin.edu. And to register, please go to https://bbc2019.eventbrite.com.


  • Wednesday, January 30, 2019 09:36 | Anonymous member (Administrator)








    Mazars Thailand a Xero Platinum Partner


    Mazars is proud to have reached another milestone by becoming a Xero Platinum Partner, the first accounting firm in Thailand to achieve this landmark.

    Accounting and Payroll Outsourcing Services Partner, Jonathan Fryer stated, “Xero enables us to deliver the best possible client experience. We have developed market-leading expertise in using Xero in Thailand, with over 75 Xero-certified staff members. Our cloud-accounting solutions are localized for Thai businesses. We are proud to be a Platinum Partner, and thank Xero for all their support over the years”.

    Mazars Thailand has achieved its Platinum Partner status because of the large number of clients we have assisted in moving away from traditional accounting services to managing their accounting in the cloud with Xero. In addition, winning Xero’s Regional Partner of the Year Award for Asia at Xerocon 2018 was proof of our leadership in the region, leveraging Xero to provide high-quality and innovative services to our clients.

    Contact us today to find out more about how Mazars can assist your business with transforming its accounting.

    For more information, please visit www.mazars.co.th


  • Friday, January 25, 2019 10:55 | Anonymous member (Administrator)





    Six Cambridge University Offers for Shrewsbury Students

    Students at Shrewsbury International School Bangkok Riverside are celebrating six offers from the University of Cambridge, ranked 2nd in the Times Higher Education World University Rankings 2018 .

    The offers add to Shrewsbury’s outstanding track record of university placements around the world.  Shrewsbury’s Higher Education Program has received international recognition, having been named winners in the category of Initiative to Support Students’ Pathways to College/University Education in the International School Awards 2019.

    Chanop (Chap) Sethiwan receives an offer to study Engineering whilst Singh (Leo) Atipunumphai  secures an offer to study Natural Sciences (Physics). With her offer to read Economics, Pornchanit (Sand) Sunyabhisithkul  has the opportunity to join her sister, Sense (Shrewsbury Class of 2018) at Cambridge, whilst Nerinat (Nae Nae) Yongphiphatwong (Engineering) also completes a family double, with sister Pun Pun (Class of 2018) now studying at rival Oxford University.

    Woramon (May-May) Wattanawanitchakorn receives an offer to read Economics, whilst fellow Music Scholar and star mathematician, Sithipont (Pino) Cholsaipant, is now in the extraordinary position of being able to weigh up offers from both Cambridge and Stanford University , which is ranked third in the world.

    For Leo, Nae Nae and Chap, the achievement marks the culmination of a carefully structured learning journey, which began in Shrewsbury’s Early Years programme. For all six students, the offers are a testament not only to their dedication to their studies but also to their academic curiosity. They have all consistently shown great willingness to explore content and concepts beyond the examination syllabus, something which is encouraged and supported by Shrewsbury staff, and through the Sixth Form’s “Reading the World” critical thinking programme.

    Assistant Principal (Head of Academic) Rob Groves notes, “As our students will have found out through their own research of the Oxbridge admission processes, and from listening to the advice of our own Higher Education Team as well as Oxford and Cambridge universities’ own admissions personnel, who we have been pleased to host here at Riverside in recent months, what these top universities are looking for is an ability to talk with passion and confidence about supra-curricular subject matter that really expose their curiosity and analytical skills.”

     “Having had the pleasure of watching their progress through the years, it is no surprise to me that these six exceptional students were able to stand out in such a competitive global field. In addition to being academically very gifted, they also have an exemplary work ethic and demonstrated the courage to take on a challenge,” Rob continues.

    “I have seen this confidence develop in many different ways, but in particular through the co-curricular and leadership opportunities that are offered here at Shrewsbury and which all of these students have grasped with both hands. Congratulations to them, and very good luck to all of our students in both their university applications and A level exams that follow.”


  • Thursday, January 24, 2019 17:05 | Anonymous member (Administrator)





    Deloitte thailand celebrates 80 years of operation in Thailand

    Toast to our 80 years and more!

    Last night Deloitte Thailand held a reception to our distinguished guests at Waldorf Astoria Bangkok.

    By this, Khun Subhasakdi Krishnamra (Country Managing Partner of Deloitte Thailand ), Mr.Danilo Alcantara (Chairman of Deloitte Southeast Asia), guest of honor Khun Paron Israsena Na Ayudhya (Director of Sasin Graduate Institute of Business Administration of Chulalongkorn University), Prof. Emeritus Toemsakdi Krishnamra , Prof.Dr. Khun Somroek Krishnamra , together with Deloitte business units’ leaders honorably gave a toast to celebrate our 80-year journey of Deloitte in Thailand.

    Thanks you all to be part of our memorable night!


  • Thursday, January 24, 2019 10:09 | Anonymous member (Administrator)





    Kyi’s article

    Kyi was a refugee migrant from Myanmar who left with the rest of her family to the north of Thailand where she attended a migrant school supported by Women with a Mission. Women with a Mission is one of our Community Partners and through this relationship Regents then awarded Kyi a scholarship to study at our school. 

Australian-Thai Chamber of Commerce

20 Floor, Unit 203, Thai CC Tower
43 South Sathorn Road   ·   Bangkok Thailand 10120

Tel: +66 2 210 0216   ·   Fax: +66 2 675 6696   ·   office@austchamthailand.com

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