27 Nov 2020
Thailand beat Singapore for the second consecutive year as the top initial public offering (IPO) market in Southeast Asia by value of funds raised according to figures from Deloitte.
Singapore had eight listings that raised a total of USD 852 million (SGD 1.14 billion) during the first 10 1/2 months of the year compared with 23 IPOs in Thailand which raised USD 3.9 billion during the same period.
Compared with last year, Thailand, Southeast Asia’s second-biggest economy beat Singapore by a far stretch this year. Last year, Thailand raised USD 3 billion from 34 IPOs compared with 11 IPOs in Singapore which raised USD 2.26 billion.
Thailand Q3 2020 GDP down 6.4% YoY
16 Nov 2020
Thailand’s GDP fell 6.4% YoY during the quarter ended September 2020 according to data from the National Economic and Social Development Council.
Charoen Pokphand Group gets antitrust approval to acquire Tesco’s Thailand business
06 Nov 2020
Thai conglomerate Charoen Pokphand Group (CP Group), one of Thailand’s largest private companies – has received approval from Thailand’s antitrust agency to acquire British retailer Tesco PLC’s retail business in Thailand, subject to certain conditions including a condition that bars the group from any further modern-retailing mergers (excluding e-commerce) for the next three years. The deal will result in “increased market power but not a monopoly,” the agency said in a statement. “The deal may significantly lower competition but won’t create major damage to economy nor consumers’ benefits.”
The USD 11 billion acquisition will give CP Group a retail store network of around 2,000 hypermarket and grocery stores across Thailand, helping CP Group further solidify its position as Thailand’s largest retailer.
Dot Property acquires property listing startup Hipflat
Thailand headquartered property-focused digital media firm Dot Property has acquired property listing startup Hipflat for an undisclosed amount. Dot Property currently owns and operates 10 property listing portals across Southeast Asia, and the acquisition bolsters Dot Property’s presence in the region. Hipflat reportedly has more than 200,000 listings from all over Thailand.
Siam Commercial Bank ventures into food delivery
26 Oct 2020
One of Thailand’s largest commercial banks – Siam Commercial Bank – has ventured into the country’s highly competitive food delivery market with the launch of its food delivery app – Robinhood.
E-commerce fulfillment startup MyCloudFulfillment raises US$ 2 million Series A
16 Oct 2020
Thai e-commerce fulfilment startup MyCloudFulfillment (MCF) has raised US$ 2 million in Series A funding from local private equity firm ECG-Research, Gobi Partners, Bangkok-based alternative investment firm NVest Venture, and SCB 10X, a holding company of Siam Commercial Bank. The fresh capital will be used for product development, build a data-centric organization, and leverage its data to drive e-commerce growth in its home market, Thailand.
As its name suggests, MCF provides e-commerce fulfilment services such as storage, packing, shipping, sales channel integration, and data analytics for e-commerce and omnichannel businesses.
Like many of its Southeast Asian neighbors, Thailand’s logistics market is on a growth path, driven by a growing number of online shoppers. With an average annual online spend of US$ 1,746.20, Thais rank among the highest spending online shoppers in Southeast Asia according to an article by J.P. Morgan.
Huawei Thailand is investing TB 475 million to establish a 5G innovation center in Bangkok
22 Sep 2020
Huawei Thailand is investing TB 475 million to establish a 5G ecosystem innovation centre at the Digital Economy Promotion Agency’s (DEPA) headquarters in Bangkok, with the aim to accelerate 5G innovation through ecosystem collaboration and boost the digital economy. The center will serve as a sandbox for the development of digital innovations for 5G applications and services across various industries in Thailand. These innovations will create new business opportunities for SMEs, startups and educational institutions, enabling Thailand to become a digital hub of the ASEAN region.
Thailand car sales drop 12.1% YoY in August
18 Sep 2020
Domestic car sales in Thailand fell 12.1% to 68,883 units in August, marking the 15th consecutive month of falling sales albeit an improvement from July when sales fell 24.8% YoY according to the Federation of Thai Industries (FTI). Falling sales are attributed to weak demand due to the Covid outbreak. In fact, August sales rose 16.1% MoM driven by the easing of lockdown restrictions.