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Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies

The Thaiger & The Nation

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Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | The Thaiger

Newly established in Phuket, Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai/Swiss educated), are bringing Artificial Intelligence to Thailand and also bridging the gap between established currencies and the emerging world of cryptocurrencies.

Through a sister subsidiary company, Invacio AAP Holdings (Seychelles), under the Invacio umbrella are all set to accept their very own invacio branded cryptocurrency (INV) as a means of payment for their many AI driven services.

Invacio outline below exactly where their INV fits into the world and their future plans.

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

Many of you will have noticed a growing trend in the world of cryptocurrencies: The once high, almost guaranteed, returns from participating in ICOs are quickly dissipating. With more and more currencies failing to make anywhere near the gains they have done previously upon hitting exchanges. In fact, quite often nowadays, the opposite is true with more currencies crashing in value quite soon after launching. Research has shown that it takes less than 4 months for a vast majority of ICO backed projects to fail and any monies tied up in the currencies lost. It can be truly disturbing to see that happen.

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

In some respects, the crypto world has brought this, near cataclysmic, turnaround upon itself. So many companies have undertaken ICOs as a means to actually create a product from the ground up. Mostly raising money on the back of an idea and a wishlist of elements that need to be created before true progress and an actual product can be put into the market. But while the coinsale is in progress they hype the coins like crazy to drive an immediate desire to own them.

Presenting them as an actual investment (SEC registered coins are seen as a security owing to the fact they resemble shares in the legal definition) even when they are merely a utility token, to be used once the final product that was outlined in the whitepaper is launched, with no securities elements attached.

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

Lack of experience or technical knowhow can kill any company’s chances of success in the world of cryptocurrency as any apparent flaw, unforeseen delay or blatant error can cause a coin holding community to turn on the founders and destroy them in a torrent of fear, uncertainty and doubt. Obviously trying to create or develop a product from out of nothing whilst also trying to calm chat rooms full of baying coin holders wanting answers is not going to facilitate a hitch free process by any stretch of the imagination. Thus, the team loses focus, inhouse arguments break out, relationships break down and ultimately, no products make it out and companies die.

So why are we at Invacio different and why should you buy our tokens?

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

Cryptocurrency in general is massively down in terms of market cap overall with even some of the big name coins down dramatically from their all time highs of late 2017 and early 2018. This general malaise has affected very many startup companies as they were entirely reliant on funds raised being of sufficient value to pay for their planned products to be developed. Again, Invacio is different because the products are ready or near market ready and so all we need to do is create the infrastructure and launch the product derivatives. With progress on 2 new Thai facilities and a developers office in India underway, we are readying to build our initial server centres and start the scaling process with our AI systems.

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

We have already launched our Zero-knowledge secure email system invmail.io and the Android version of our Tamius wallet (Apple iOS should be released very soon too).

There is a roadmap outlining the expected launch dates of our products and we are doing everything we can to prepare our systems and begin launching our AI driven services in line with it. The next products we are planning to launch are Agnes and Network both of these will require holding or spending INV to access.

Beyond the initial uses for INV that we as an organisation will be putting forward for general consumers, we are also reaching out and arranging other ways for INV to be used. Our partnership with CEAM is one such project where INV is the only currency that is being accepted during the private presale process for their asset backed property coin. Currently under MOU as was announced sometime ago, the lawyers are putting the finishing touches to a full Joint Venture agreement but in the meantime private sales for the CEAM project have already begun.

Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies | News by The Thaiger

The long term financial viability of Invacio is going to stem from its operations in the private and government sectors, more so than the consumer market. The reason for this is that there are literally thousands of individual modules and hundreds of AI modules within our overall system that can be rolled out as specifically targeted separate products. A few of the modules we can look to exploit separately are: facial recognition, image compression and recognition and market monitoring.

Via our API service, commercial organisations will be able to tailor make their own datasets and have our systems provide the analysis through any number of modules.

As more and more services come online there will be a growing number of reasons for various parties to buy, hold or spend INV to secure our services, this can only drive demand across all markets.
Our journey to this point in our development has been very interesting but as the saying goes: “When the going gets tough…..”.

We do not run away from challenges but embrace them and will continue to strive, push and fight our way through until we can look at our past efforts and smile, knowing that we delivered what we promised.

Please contact Roger Baker via email at Roger@invacio.com for any enquiries or visit invacio.com to learn more about their other divisions.

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Business

Out of 37 countries, Thailand has the worst pension system, says Bloomberg

May Taylor

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Out of 37 countries, Thailand has the worst pension system, says Bloomberg | The Thaiger

Thai Residents reports that on Sunday, Bloomberg published an article on the world’s best pension systems, using information gathered from the 2019 Melbourne Mercer Global Pensions Index.

The survey looked at the pension systems of 37 countries with metrics including employee rights, savings, the number of homeowners, growth of assets, and growth of the economy. The purpose of the analysis was to determine what was needed to improve state pension systems and to gauge the level of confidence citizens had in their state pension system.

The Netherlands and Denmark were found to have the world’s best state pensions, with Australia, Finland, Sweden, Norway, Singapore, New Zealand, Canada, and Chile next. Out of all 37 countries, Thailand finished last, with what the report described as an extremely ineffective and ambiguous system.

“Thailand was in the bottom slot and should introduce a minimum level of mandatory retirement savings and increase support for the poorest.”

Out of 37 countries, Thailand has the worst pension system, says Bloomberg | News by The Thaiger

Photo: WorkpointNews

Thai Residents states that only those employed within the government system in Thailand are eligible for a pension based on salary. For most Thai citizens, pension amounts vary from 600 baht to 1,000 baht a month, depending on the recipient’s age.

A report carried out by The Securities and Exchange Commission (SEC) advises Thai citizens to have at least 4 million baht saved by the time they retire, but Thai Residents reports that 60% of Thai retirees have less than 1 million baht in savings, with one in three citizens who have reached retirement age are forced to continue working in order to survive.

SOURCE: thairesidents.com

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Another Thai hotel management dispute flares up – The Peninsula Bangkok Hotel

The Thaiger

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Another Thai hotel management dispute flares up – The Peninsula Bangkok Hotel | The Thaiger

PHOTO: The Peninsula Bangkok Hotel

The Hongkong and Shanghai Hotels, which operates luxury brand The Peninsula Hotels, says it will “vigorously defend its rights” to manage The Peninsula Bangkok, following a legal win by the hotel’s Thai shareholder that paves the way for the management agreement to be terminated.

And so the open wounds of a business saga are now on full display between a international hotel management company and the local Thai owners. This time it’s involving one of Bangkok’s best known luxury hotels.

Thai business law prevents many of the international hotel brands actually owning the properties so wealthy Thai families acquire the properties and then contract international hotel expertise to manage the assets where two entities are trying to get a larger slice of the pie. And, for now, the pie is getting smaller with the contraction in the traditional hotel business and the challenges Thai tourism is currently facing.

Peninsula Hotel, the iconic 370 room Chao Phraya riverside hotel, is 50% owned by the Phataraprasit family and the other half by The Hongkong and Shanghai Hotels’ subsidiary in Bangkok.

The Peninsula Bangkok is a 5-star hotel in Bangkok, Thailand. The hotel opened in 1998, counting 37 floors and 367 rooms.

Skift.com reports that the Thai shareholder went to court after it failed to end the agreement in the boardroom on January 26, as it was blocked by the Hong Kong and Shanghai Hotels subsidiary, which has a voting majority in the board. But on September 10, the local Thonburi Civil Court ruled that the subsidiary should not have been allowed to vote on a resolution regarding the termination of the agreement.

The legal case between a Thai owner and hotel chain managers over non-performance, isn’t the first. Minor International is suing Marriott International is sueing the Marriott Group for a “highly disappointing” performance of the JW Marriott Phuket Resort & Spa in Mai Khoa. Minor fully owns the luxury beachside hotel and and Marriott manages. The lawsuit was filed on July 12. The case is ongoing.

The statement says…

“Any termination of Peninsula’s management would be tantamount to a breach of the shareholders agreement between Hongkong and Shanghai Hotels and the Phataraprasit shareholders, as well as the Peninsula’s management agreement. Hongkong and Shanghai Hotels will vigorously defend its rights. Pending the outcome of the appeal and other legal processes which are ongoing, The Peninsula Bangkok continues to be operated by The Peninsula under the hotel management agreement which continues to be legally binding.”

Some background, the Thai Phataraprasit family, who also have interests in The Mall Group (that manages the Siam Paragon and Emporium shopping centres in Bangkok), alleges that The Hongkong and Shanghai Hotels had not run the hotel profitably in the last 20 years.

In an article in the Bangkok-based Travel Impact Newswire, Pradit Phataraprasit, head of the Thai family’s investments, had strong words.

“In the last 20 years, there has not been a single year in which the Peninsula hotel group’s management company has run the hotel profitably for its shareholders.”

“The Peninsula sits on one of the most expensive riverside land plots in this city but, very curiously, it cannot yield a dividend for its shareholders. We have been very patient with the management company belonging to our partners from Hong Kong. However, the time has come for another management company to run this hotel.”

For their part the COO of Hong Kong and Shanghai Hotels, Peter Borer, says the group had always operated “with integrity” regarding the operation of the hotel.

“Over the past decade, the hotel’s financial performance has been affected by political uncertainties and a challenging luxury hotel market in Bangkok, but as a group with a long-term investment philosophy, we have always remained committed to Thailand.

Commenting on the ongoing legal fracas….

“The daily operations of the hotel are not currently affected pending the final outcome of the legal actions.”

The company’s Q1&2 results shows the hotel had a drop of 5% in revenue compared with January to June last year. The average room rate rose 8%, but the occupancy rate dipped 6%.”

Reporting on the results so dar this year….

“The Peninsula Bangkok reported a relatively soft start to the year, impacted by a slower economy and uncertainty over the country’s first elections since 2014. Our hotel was also negatively affected by extensive roadworks adjacent to our property which impacted our food and beverage and catering business.”

Again, the Phuket boat tragedy, killing 47 Chinese tourists in July 2018, was presented as a key reason for current woes.

“Chinese mainland tourist arrivals declined year-on-year following a tragic boating accident in Phuket in 2018 which led to reduced group tourism to the country overall.”

Two years ago Pradit Phataraprasit was named as being involved in the Dhammakaya Temple scandal.

“Prominent Businessman Pradit Phataraprasit has denied any involvement in alleged embezzlement or the scandal-hit Dhammakaya Temple after records show he bought a land plot from a suspected money launderer.”

SOURCE: skift.com

Another Thai hotel management dispute flares up - The Peninsula Bangkok Hotel | News by The Thaiger

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500 people own 36% of equity in Thai companies

Greeley Pulitzer

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500 people own 36% of equity in Thai companies | The Thaiger

Roughly 36% of Thailand’s corporate equity is held by just 500 people, highlighting wealth inequality in the Kingdom, according to a study released by the Bank of Thailand’s research institute.

Each of these 500 amass some 3.1 billion baht (102 million USD) per year in company profits, according to the report from the Puey Ungphakorn Institute for Economic Research. In contrast, average yearly household income in Thailand is around 10,000 USD.

A report out this week from the Economic and Business Research Centre for Reform at Thailand’s Rangsit University also pointed to divisive and polarised politics being another root cause of the economic divide.

Thailand’s private sector is dominated by tycoons running sprawling conglomerates. According to the World Bank, the gap between the mega-wealthy and the rest of the Thai population of 69 million is among the many economic challenges for Thailand. According to Bloomberg, the perception of a divide, exacerbated by an economic slowdown, is a major political fault line.

“Magnates arise in Thailand from institutional factors that privilege certain businesses,” said the executive director of PIER, author of the study.

The institute said Thailand needs to promote competitiveness to reduce profits from monopoly power and bolster entrepreneurship to create a more equitable distribution of corporate wealth.

The research is based on analysis of 2017 Commerce Ministry data on the 2.1 million shareholders in Thai firms, and was funded by the University of California San Diego.

SOURCE: Bangkok Post

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