profit
- Business News
Banking on gains: Thai banks ‘interest’ed in profit uptick for 2024
Thai banking sector profits have seen a modest uptick for the first nine months of 2024, buoyed by rising interest and fee incomes. Yet, the backdrop of swirling economic uncertainties has kept banks on their toes, continuing to stash away hefty reserves for potential loan losses. The pack of 10 Stock Exchange of Thailand (SET) listed banks and their subsidiaries…
- Lifestyle
Temu Thailand review: Is it worth the hype?
Temu Thailand is making waves in the e-commerce industry, but what does it really offer? If you’re curious about this new player in the Southeast Asian market, you’re in the right place. In this article, we’ll investigate into the platform’s offerings, user experience, and whether it lives up to the hype. What is Temu Launched in July 2024, Temu is…
- Business News
New Thai bank licences grapple with early profitability challenges
The winners of the Bank of Thailand’s virtual bank licences are expected to face significant challenges in achieving profitability in the initial years, as the industry typically experiences high cash burn during the first five years, according to KGI Securities. Siam Commercial Bank (SCB) is projected to benefit the least from a virtual bank licence compared to other Thai banks…
- Thailand News
Century-old parkia speciosa tree generates 40,000 baht annually
A century-old parkia speciosa tree in Trang province has captivated the market due to its large, long pods and superior taste, generating up to 40,000 baht annually from a single tree. At Suan Ta Chan Tonmai Panpi in Trang’s Na Yong district, 53 year old Satit Ramna hired locals to climb and harvest the pods from his four 100-year-old parkia…
- Aviation News
Thai Lion Air expands fleet, aims for 7 million passengers
Thai Lion Air is expanding its fleet and reinstating routes in response to rising tourism demand, aiming for 6-7 million passengers and achieving its first post-pandemic profit. Thai Lion Air chief Nuntaporn Komonsittivate made known that domestic and international routes have recovered by 60%, supported by an increase in operational jets to 20 from 11 in recent years. The average…
- Business News
Vietnam Airlines surges 179%, top-performing airline stock in 2024
Vietnam Airlines made a remarkable return to profit, emerging as the world’s best-performing airline stock this year. The state-owned carrier soared to 179% in 2024, buoyed by a resurgence in travel demand. This surge in performance has allowed the airline to post a significant first-quarter profit, breaking a streak of over four years of consecutive losses. This turnaround is particularly…
- Thailand News
Flooding in Nakhon Ratchasima boosts income with tadpole sales
Heavy rainfall in Nakhon Ratchasima has led to flooding in several areas, prompting locals to catch tadpoles in rice fields. These tadpoles are used in traditional dishes, reducing household expenses and generating additional income as they sell for 300 baht per kilogramme. Recent reports indicate that various parts of Nakhon Ratchasima province have experienced rainfall, which has moistened the soil…
- Thailand News
Singapore Airlines to reward staff with eight months’ salary bonus
Singapore Airlines is set to reward its staff with a bonus payout equivalent to nearly eight months’ salary, following its second consecutive year of record-breaking annual profits. This impressive bonus surpasses last year’s record payout, which included a profit-sharing bonus of 6.65 months’ salary and an additional ex-gratia bonus of up to 1.5 months’ salary due to the coronavirus pandemic.…
- Thailand News
Cathay Pacific staff rewarded with record bonus
Hong Kong’s Cathay Pacific Airways announced a windfall for its staff, showering them with a bonus equal to 7.2 weeks’ pay. The airline revealed today a staggering net profit of HK$9.79 billion (approximately 44 billion baht) for last year, alongside plans to bolster its workforce by 20%, hiring an additional 5,000 personnel. Cathay Pacific also delighted shareholders by declaring its…
- Thailand News
Thai Airways reveals rising revenue in third-quarter results this year
Thai Airways International Public Company Limited and its subsidiaries announced their third-quarter performance results today, showing a total revenue of 37,008 million baht. This is an increase from the same period last year, which stood at 32,860 million baht, marking a rise of 12.6%. The company and its subsidiaries transported a total of 3.27 million passengers, with Thai Airways accounting…
- Business News
Thai Airways reports profitable Q4, driven by Chinese visitor surge
Thai Airways International Public Company Limited (THAI) announced a profitable fourth quarter, marking the fourth consecutive quarter of profits, underpinned by a steady recovery in passenger numbers amid the Covid-19 era. The growth has been particularly driven by a surge in visitors from China. Thai Airways recorded a net income of 1.54 billion baht (US$43 million) for the quarter ending…
- Thailand News
Rubber to riches: Thai farmer’s organic vegtable transformation yields green profits
A 58 year old entrepreneurial farmer in Trang has transformed his four-acre rubber plantation into a thriving organic vegetable garden. Previously, he was earning only 100 baht for 3 kilograms of rubber. Now, his organic vegetable farming generates an income of over 50,000 baht per month from his new endeavour. The farmer, San Chanchia, residing at House No. 17, Village…
- World News
Vietnamese man inherits 1.4 million baht from elderly mother-in-law’s banknote
A Vietnamese man cared for his frail and elderly mother-in-law at home, fulfilling his wife’s wishes to have her close by. This action yielded unexpected rewards when the woman’s death led to accidental wealth for him and his wife. Minh, a Vietnamese man, and his family welcomed his sick and elderly mother-in-law into their home as per the request of…
- Business News
Thailand’s smartphone market holds promise despite economic strain
In these difficult financial times, Thailand’s smartphone market still carries incredible potential for device makers, particularly in high-end models, despite reduced support of handset subsidies by mobile operators, according to Oppo, a leading Chinese smartphone maker. With a market value exceeding 100 billion baht, Thailand’s smartphone market is regarded as a gem within Southeast Asia. The Senior Executive Vice-President at…
- Business News
Sam Altman dismisses public listing, discusses AI’s future and regulation
OpenAI CEO Sam Altman has stated that the company, backed by Microsoft and known for its ChatGPT technology, has no intentions of going public in the near future. Speaking at a conference in Abu Dhabi, Altman expressed concerns about potential conflicts with investors’ expectations and the need for a unique structure to maintain OpenAI’s capped-profit model. OpenAI has raised US$10…
- Business News
Thai e-marketplaces Shopee and Lazada shift to profitability
The e-commerce landscape in Thailand experienced a significant shift as major players Shopee and Lazada reported profits for the first time in almost a decade. This change has been attributed to careful spending, operational adjustments, and increased service fees. In 2022, Shopee recorded a profit of 2.4 billion baht, while Lazada posted a profit of 413 million baht. Shopee’s revenue reached…
- Business News
Toyota projects 10% profit growth and five-fold increase in EV sales this year
Toyota Motor Corp revealed on Wednesday that a 10% increase in operating profit is expected during this business year, as sales of pure electric vehicles (EV) are predicted to surge five-fold with a reduction in global supply chain disruption caused by the ongoing chip shortage. The ambitious growth plan was introduced by the newly appointed CEO, Koji Sato, who entered…
