expansion
- Business News
Thai banks set for expansion amid ASEAN economies’ growth
A surge in regional business expansion is forecasted for major local banks in Thailand due to the growth potential of ASEAN economies. This outlook has been provided by Fitch Ratings Thailand, indicating promising revenue prospects for these banks through increased regional operations. In 2023, a noticeable upturn in the regional business of large local banks was observed, primarily due to…
- Business News
EA plans expansion in renewable power and EV sector
Renewable energy and electric vehicle (EV) developer, Energy Absolute Plc (EA), is set to expand its power business. The decision comes after a pause in the introduction of new projects since 2019. Currently, the firm’s wind and solar farms generate a capacity of 664 megawatts. The company’s CEO, Somphote Ahunai, noted in a 2020 interview that EA diversified into EV-related…
- Thailand News
Betong tourism association pushes for airport runway extension
The Betong District Tourism Association is pressing for an extension of the runway at Betong International Airport. The expansion is integral to Prime Minister Srettha Thavisin’s tourism enhancement agenda. The longer runway is anticipated to allow larger aircraft to land, subsequently increasing the influx of tourists. Deputy President of the association, Narin Ruangwongsa, expressed the intention to propose this expansion…
- Phuket News
Phuket Airport seeks public input on expansion plan
A call to action echoes across Phuket as the Airports of Thailand invite the public to the final hearing on the second phase of Phuket International Airport’s expansion. Slated to be conducted at the prestigious Proud Phuket Hotel in Sakhu, the hearing is scheduled from 9am to 12pm on March 8. The primary objective of this public hearing revolves around…
- Business News
Thachang Green Energy projects major expansion by 2026 with new power plants
Thachang Green Energy (TGE), an operator and developer of biomass power plants listed on the Stock Exchange of Thailand (SET), projects a significant business expansion between 2025 and 2026. This growth is attributed to the additional power generation capacity from imminent power plant projects. While no capacity increment is planned for this year, TGE predicts a revenue surge of over…
- Aviation News
Thai Airways’ sky high ambitions: Plans for 90 new jets unveiled
Thai Airways International PCL is gearing up for a jaw-dropping fleet expansion with a plan to soar with 90 new aircraft. In a game-changing move, Thai Airways International PCL is contemplating a colossal boost to its fleet, eyeing a procurement of up to 90 aircraft from aviation giants Airbus SE and Boeing Co. Sources reveal that Thai Airways is mulling…
- Thailand News
TikTok Thai training twist: App eyes Thailand for next big move
TikTok, the popular video-sharing social media app, is considering establishing a training centre in Thailand. Prime Minister Srettha Thavisin revealed this after meeting with the app’s executives during the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. The intent is to utilise the platform’s popularity to promote Thai food and local products, often referred to as soft power. The 61…
- Thailand News
PTT reinvestment: Diversifying beyond oil and petrochemicals for future growth
National energy conglomerate PTT Plc has initiated a reinvestment phase, eyeing new ventures for future growth. This move follows the stagnation of the company’s traditional businesses, which are primarily centred around the oil refinery and petrochemical sectors. As these avenues have limited potential for enhancing future income, the company emphasises the need for reinvestment. PTT’s President and Chief Executive Officer,…
- Business News
Tasty transformation: Thai instant noodles ride K-pop and J-pop wave
Thai Instant noodles, a staple in many households and offices, have evolved significantly in recent years, influenced by the growing popularity of Korean and Japanese pop culture in Thailand. As a result, manufacturers are diversifying their offerings, serving freshly prepared instant noodle dishes in their restaurants, petrol stations, and luxury retail complexes in Bangkok. The global demand for instant noodles reached…
- Business News
Sizzle and supersize: Sizzler and McDonald’s cook up expansion goals in Thailand
Leading restaurant brands, Sizzler and McDonald’s are set on amplifying their reach, aiming to attract a wider range of customers and heighten patronage frequencies. The general manager of SLRT Co, Anirute David Collins, who oversees the operation of Sizzler Steakhouse, disclosed plans to inaugurate a Steak Lab concept Sizzler along Koh Samui’s coast on December 16. This restaurant expansion is…
- Business News
Anta marches into Bangkok, kicks off its first sportswear sensation
China’s premier sportswear label Anta inaugurated a shop in Bangkok, marking its ambitious expansion in the Asia-Pacific region. Gavin Lum, Anta’s regional brand marketing director for Southeast Asia, revealed the new store during a recent Thailand visit. The Anta Sportswear store, occupying a 230 square metre area on CentralWorld’s third floor, kicked off operations on October 31. It caters to sports aficionados,…
- Thailand News
Cosmetics industry goes global: Thai NSTDA’s empowering touch
The Thai National Science and Technology Development (NSTDA) initiated a comprehensive service to aid cosmetics industry entrepreneurs in their global market expansion. The NSTDA director, Chukit Limpijamnong, indicated that the cosmetics industry is a key sector for the agency and possesses significant expansion potential, both domestically and internationally. Therefore, firms in this sector require robust support in innovation and technological…
- Business News
LiuGong Machinery’s blueprint: Constructing a new chapter across Asia-Pacific
LiuGong Machinery, a Chinese construction machinery manufacturer, unveiled plans to establish three new factories and three machine assembly facilities in the Asia-Pacific region. The company is still in the process of deciding on the specific countries for these new developments, with Thailand being one of the potential locations. The commencement of these projects is anticipated for the following year, according…
- Business News
YouTrip sets sights on Southeast Asian expansion
Southeast Asian fintech giant YouTrip is gearing up for regional expansion, backed by a successful funding round that raised US$50 million (1.84 billion baht). The round witnessed participation from new investors, including global venture capital firm Lightspeed. This Singapore-based multi-currency digital payments platform has managed to amass over US$100 million (3.68 billion baht) in funding since its inception. The newly…
- Business News
Thai beauty giants Srichand and Karmarts paint the world with global expansion plans
Srichand United Dispensary Co and Karmarts Plc, two Thai beauty corporations, are preparing for global expansion. Srichand’s Chief Executive, Rawit Hanutsaha, disclosed plans for aggressive international growth, particularly in Indonesia due to its large beauty market and population. The firm is in the process of identifying suitable Indonesian distributors and is also considering Malaysia. Srichand has already established a global…
- Business News
Business collaboration: Thailand and Japan’s Wakayama join forces in furniture and agriculture sectors
Thailand is geared towards fostering new partnerships with Japan’s Wakayama prefecture, with a particular emphasis on the co-development of the furniture and agricultural processing sectors. The main objectives of this business collaboration include enhancing product development and expanding export possibilities. Commerce Minister Phumtham Wechayachai, following a discussion with Wakayama’s governor, Kishimoto Shuhei, yesterday, stated that he urged the prefecture to…
- Business News
Thailand’s commerce ministry aims for 20% cross-border trade boost
The Commerce Ministry of Thailand has an ambitious vision for the upcoming year – pushing cross-border trade value to 1.2 trillion baht, marking a 20% increase from this year’s estimated 1 trillion baht. Deputy Commerce Minister Napintorn Srisunpang, the overseer of the Business Development Department, Trade Negotiations Department and Foreign Trade Department, disclosed the ministry’s strategy to achieve this. They…
- Business News
ThaiBev expansion: 7 billion baht investment includes new Cambodia factory
ThaiBev, the Singapore-listed food and beverage company, announced an investment plan of 7 billion baht for the expansion of its operations both domestically and internationally. The company’s CEO, Thapana Sirivadhanabhakdi, revealed that 4 billion baht will be used to construct a new beverage factory in Cambodia, while 3 billion has been set aside for logistics facilities, a biogas factory, and…
- Thailand News
THAI’S high-flying ambition: Soaring to new heights in tourist traffic
Thai Airways International (THAI) unveiled an ambitious plan to expand its international flight offerings in the forthcoming high season. The airline’s primary focus is to draw in a higher number of tourists. A notable feature of this expansion is the airline’s decision to recommence flights to Istanbul, Turkey, which is a significant aviation hub for Asia, Europe, and Africa. This…
- Thailand News
Thailand’s State Railway seeks 50 billion baht for expansions
Thailand’s State Railway (SRT) is planning to request Cabinet approval for a funding amount exceeding 50 billion baht. This hefty sum is aimed at financing the construction of a double-track railway stretch from Khon Kaen to Nong Khai and the expansion of Red Line electric train routes. The announcement follows a directive from Transport Minister Suriya Jungrungreangkit, who instructed the…
- Business News
CPN plans 3 billion baht expansion of Phuket condos
Central Pattana (CPN), a company listed on the Stock Exchange of Thailand (SET), announced its intentions to introduce two additional phases to its condominium project, Phyll Phuket, near Central Phuket Floresta. The Phuket condos expansion, which includes nearly 700 units worth a total of 3 billion baht, is set to launch in the forthcoming year. This decision is motivated by…
- Business News
Phuket Airport expansion to double capacity, costing 6 billion baht
Phuket International Airport is set to undergo a significant expansion, as approved by the Airports of Thailand (AoT). The project, which is currently in the design stage, is estimated to have a price of upwards of 6 billion baht. AoT’s President, Kerati Kijmanawat, highlighted the expansion as a primary agenda during Prime Minister Srettha Thavisin’s recent visit. The proposed airport…
- Business News
Ratch Group earmarks 35 billion baht for business expansion
Thailand’s leading private power producer, Ratch Group Plc, remains steadfast in its decision to allocate a capital expenditure of 35 billion baht for the expansion of its operations in both the power and non-power sectors this year. Chief Executive Choosri Kietkajornkul said that out of this capital allocation, 29 billion baht is for investments in power generation. She further revealed…
- Business News
Liquid dreams: Thailand’s Pilatus Marine charts global growth with 1.05 billion baht vessel acquisition
Pilatus Marine, a SET-listed company and Thailand’s leading liquefied petroleum gas (LPG) transport operator, is set to acquire three large used liquid-carrying vessels for a total cost of 1.05 billion baht. This move is aimed at expanding their services overseas. Operating in both marine and land transport of LPG, Pilatus Marine also leases vessels to other companies. The incoming ships,…
- Business News
Thai AirAsia targets 40% domestic market share by 2023, plans Japan expansion
Thai AirAsia, a leading low-cost airline, has set a goal to command 40% of the passenger market share domestically by the close of 2023. This comes as the airline intends to introduce two additional routes in Japan in the upcoming year. In a revealing disclosure, Santisuk Klongchaiya, the Chief Executive of Thai AirAsia, mentioned that the airline’s market share in…
- Economy News
Thailand’s data centre sector poised for explosive growth with global tech titans and cloud nine prospects
In a surge of digital enthusiasm, Thailand’s data centre industry is set to experience substantial expansion within the next two years, thanks to the arrival of worldwide tech giants and cloud service providers. This prediction comes from ST Telemedia Global Data Centres (Thailand) (STT GDC Thailand), a dominant player in hyper-scale data operations. STT GDC Thailand, a fruitful joint venture…
- Thailand News
Bangkok waterways: 9.32 billion baht expansion plan unveiled
In a proactive move to alleviate traffic congestion in Bangkok, Thailand’s Office of Transport and Traffic Policy and Planning (OTP) is set to submit plans for the development of existing and potential canal routes. Underpinning these Bangkok waterways plans is the promotion of passenger boat transportation as a practical solution to the city’s notorious traffic issues. On the specifics of…
- Business News
Wiko resumes Thai operations targeting 2% market share with affordable phones
Aiming to carve out 2% of the Thai market by year-end and expand to 4% by next year, mobile manufacturer Wiko has resumed commercial operations. The company, with its French roots, intends to capture the lower to middle-tier smartphone segment. This comes after a six-month hiatus in its marketing efforts for the Thai market, and now the brand will move…
- Thailand News
Hua Hin Airport upgrade to attract tourists and boost Thai economy
In a move poised to encourage tourism, Hua Hin Airport, operated by the Department of Airports (DoA), is set for a vast upgrade that will escalate it to international status, as confirmed by acting director Rattapol Charoenphon recently. The Hua Hin Airport has already made significant strides towards this goal, extending its runway to reach a length of 2.1 kilometres…
- Business News
Starbucks Thailand advances expansion, eyes 800 outlets by 2030
Starbucks Thailand unveiled a bold expansion plan for the 2023 to 2030 period. The plan aims to increase the current number of Starbucks outlets in the country from 465 to a whopping total of 800 by the end of 2030. As per this agenda, the addition of 335 stores is projected across Thailand over the specified span. Nednapa Srisamai, the…
- Business News
HomePro invests 4 billion baht in eco-friendly store, diversifies product portfolio in Thailand
Home decor and upgrade specialist, Home Product Center Plc, under the HomePro banner, declared a business expansion investment of 4 billion baht this year for store diffusion. Ittaporn Srisukwattana, the firm’s senior vice president of design and product development, articulated that this financial plan would be deployed towards the inauguration of two HomePro and eight Mega Home shops this year.…
- Business News
King’s Bangkok to unveil 1 billion baht teaching complex by 2024
A new chapter beckons for King’s College International School Bangkok, with an estimated completion date of 2024 for its advanced teaching and learning complex. This ground-breaking venture surfaces on the heels of the successful inauguration of the senior school in 2021. Rendering a substantial investment tally projected above 1 billion baht, King’s Bangkok carries the intent of birthing a learning…
- Economy News
Thai exports set for surge amid favourable market conditions and expansion plans
With predictions of a rebounding global economy, Thai exports are expected to witness a surge in the second half of the year, according to the nation’s Commerce Ministry. Keerati Rushchano, the permanent commerce secretary, revealed that the current competitive baht exchange rate coupled with planned market expansion initiatives could significantly boost trade. The regions targeted for market expansion include Yunnan…
- Business News
Zen Corp and CPF launch ready-to-eat Tummour meal at 7-Eleven stores
If you visit 7-eleven a lot in Thailand, there’s good news for you. Zen Corporation Plc, known for operating restaurant chains such as Zen, AKA, and Tummour, has announced its expansion into the ready-to-eat meal market in a bid to strengthen its long-term business prospects. The company’s chief commercial officer for Thai brands, Siruwat Chatchawan, disclosed that Zen Corporation has…
- Thailand News
Suvarnabhumi Airport’s SAT-1 terminal set for soft takeoff in September
Suvarnabhumi Airport in Bangkok is set to soft launch its Satellite Airport Terminal 1 (SAT-1) in September, with a full opening planned for early next year. Airports of Thailand (AoT) president, Kerati Kijmanawat, stated that the new 216,000-square-metre facility, with a capacity for 28 aircraft parking bays, aims to address existing issues at the airport. With the ability to accommodate…
