HSBC Thailand is unveiling a new positioning and a superior set of benefits for HSBC Visa Platinum Card under the concept of “A More Rewarding Journey”. The HSBC Visa Platinum cardholders will be offered unrivalled “Pay 1 for 2” privileges for all of life’s journeys.
The bank also introduces Noi - Krisda Sukosol Clappe as its Platinum card presenter.
Wichit Phayuhanaveechai, Head of Personal Financial Services, HSBC Thailand said: “HSBC Visa Platinum Card proved a great success in previous years, thanks to its exceptional offers, particularly the unsurpassed travel benefits. HSBC continues to enhance its card’s features and benefits to fulfill the lifestyles of our target customers which would increase spending and also attract new clients. We are thus delighted to introduce a new Platinum card concept and that is ‘HSBC Visa Platinum: More Rewarding Journey’.”
Mr Wichit added that HSBC Visa Platinum Card aims to fulfill the aspirations of the new generation who look for a rewarding experience while working hard to reach their individual objectives. With this in mind it is introducing the irresistible “Pay 1 for 2” benefits which gives Platinum card members superb privileges at award-winning hotels and airlines thus ensuring an enjoyable journey through 2010. Among the special benefits are the following:
-A Journey of Dining Pleasure:Pay 1 for 2 Persons to enjoy buffet at Riverside Terrace, Bangkok Marriott Resort & Spa (valid until 30 December 2010)
-A Journey of Serene Hideaways: Pay 1 for 2 Nights accommodation at Six Senses Resorts & Spas (valid until 20 December 2010)
-A Journey of Premier Travel: Pay a Special Rate for 2 Round-trip Cathay Pacific Air Tickets from Bangkok to Hong Kong, Singapore, Beijing, Shanghai, Colombo, New Deli, Karachi, and Mumbai (valid until 31 March 2010)
-A Journey of Championship Attractions: Pay 1 for 2 Tickets to view World Golf Championship event “HSBC Champions” in Shanghai and Women’s Champions 2010 in Singapore
-A Journey of Exquisite Rewards: Pay 1 for 2 Sets of King Power Duty Free Vouchers worth 4,000 baht per set. Use only 40,000 HSBC Reward Points to redeem 2 sets of the vouchers worth 8,000 baht in total (valid until 31 March 2011)
Moreover, HSBC Visa Platinum cardholders can enjoy special discounts and privileges at leading local stores and shops in 40 countries worldwide. They are also entitled to redeem a travel voucher worth 500 baht with only 2,500 HSBC Reward Points and use the voucher to redeem tickets from any airline of their choice. Platinum card members also receive a range of special privileges such as Platinum Concierge Service, Platinum Home and Roadside Assistance, Travel Accident Insurance, and many more.
Mr Wichit is certain that the new HSBC Visa Platinum campaign will gain positive response from the existing cardholders and attract new customers. Those who apply for an HSBC Visa Platinum Card from now until 28 February 2010 and meet the spending requirement will get a Maldives package (a roundtrip air ticket and accommodation at ClubMed) for 1 person worth 47,600 Baht.
HSBC has also appointed Noi - Krissada Sukosol Clapp, an artist and executive of The Siam Hotel, as its presenter to reinforce HSBC Visa Platinum Card’s unique image among the target group while also representing the new generation who believe that enjoying life’s journey is more important than reaching the destination. A comprehensive communication campaign will be launched to build up awareness and appreciation of this new product’s positioning.
Sunday, February 7, 2010
Saturday, January 30, 2010
HSBC VISA PLATINUM UNVEILS A MORE REWARDING JOURNEY WITH UNRIVALLED ‘PAY 1 FOR 2’ BENEFITS
Also introduces Noi - Krisda Sukosol Clappe as its first Card Presenter
HSBC Thailand is unveiling a new positioning and a superior set of benefits for HSBC Visa Platinum Card under the concept of “A More Rewarding Journey”. The HSBC Visa Platinum cardholders will be offered unrivalled “Pay 1 for 2” privileges for all of life’s journeys.
The bank also introduces Noi - Krisda Sukosol Clappe as its Platinum card presenter.
Wichit Phayuhanaveechai, Head of Personal Financial Services, HSBC Thailand said: “HSBC Visa Platinum Card proved a great success in previous years, thanks to its exceptional offers, particularly the unsurpassed travel benefits. HSBC continues to enhance its card’s features and benefits to fulfill the lifestyles of our target customers which would increase spending and also attract new clients. We are thus delighted to introduce a new Platinum card concept and that is ‘HSBC Visa Platinum: More Rewarding Journey’.”
Mr Wichit added that HSBC Visa Platinum Card aims to fulfill the aspirations of the new generation who look for a rewarding experience while working hard to reach their individual objectives. With this in mind it is introducing the irresistible “Pay 1 for 2” benefits which gives Platinum card members superb privileges at award-winning hotels and airlines thus ensuring an enjoyable journey through 2010. Among the special benefits are the following:
-A Journey of Dining Pleasure:Pay 1 for 2 Persons to enjoy buffet at Riverside Terrace, Bangkok Marriott Resort & Spa (valid until 30 December 2010)
-A Journey of Serene Hideaways: Pay 1 for 2 Nights accommodation at Six Senses Resorts & Spas (valid until 20 December 2010)
-A Journey of Premier Travel: Pay a Special Rate for 2 Round-trip Cathay Pacific Air Tickets from Bangkok to Hong Kong, Singapore, Beijing, Shanghai, Colombo, New Deli, Karachi, and Mumbai (valid until 31 March 2010)
-A Journey of Championship Attractions: Pay 1 for 2 Tickets to view World Golf Championship event “HSBC Champions” in Shanghai and Women’s Champions 2010 in Singapore
-A Journey of Exquisite Rewards: Pay 1 for 2 Sets of King Power Duty Free Vouchers worth 4,000 baht per set. Use only 40,000 HSBC Reward Points to redeem 2 sets of the vouchers worth 8,000 baht in total (valid until 31 March 2011)
Moreover, HSBC Visa Platinum cardholders can enjoy special discounts and privileges at leading local stores and shops in 40 countries worldwide. They are also entitled to redeem a travel voucher worth 500 baht with only 2,500 HSBC Reward Points and use the voucher to redeem tickets from any airline of their choice. Platinum card members also receive a range of special privileges such as Platinum Concierge Service, Platinum Home and Roadside Assistance, Travel Accident Insurance, and many more.
Mr Wichit is certain that the new HSBC Visa Platinum campaign will gain positive response from the existing cardholders and attract new customers. Those who apply for an HSBC Visa Platinum Card from now until 28 February 2010 and meet the spending requirement will get a Maldives package (a roundtrip air ticket and accommodation at ClubMed) for 1 person worth 47,600 Baht.
HSBC has also appointed Noi - Krissada Sukosol Clapp, an artist and executive of The Siam Hotel, as its presenter to reinforce HSBC Visa Platinum Card’s unique image among the target group while also representing the new generation who believe that enjoying life’s journey is more important than reaching the destination. A comprehensive communication campaign will be launched to build up awareness and appreciation of this new product’s positioning.
HSBC Thailand is unveiling a new positioning and a superior set of benefits for HSBC Visa Platinum Card under the concept of “A More Rewarding Journey”. The HSBC Visa Platinum cardholders will be offered unrivalled “Pay 1 for 2” privileges for all of life’s journeys.
The bank also introduces Noi - Krisda Sukosol Clappe as its Platinum card presenter.
Wichit Phayuhanaveechai, Head of Personal Financial Services, HSBC Thailand said: “HSBC Visa Platinum Card proved a great success in previous years, thanks to its exceptional offers, particularly the unsurpassed travel benefits. HSBC continues to enhance its card’s features and benefits to fulfill the lifestyles of our target customers which would increase spending and also attract new clients. We are thus delighted to introduce a new Platinum card concept and that is ‘HSBC Visa Platinum: More Rewarding Journey’.”
Mr Wichit added that HSBC Visa Platinum Card aims to fulfill the aspirations of the new generation who look for a rewarding experience while working hard to reach their individual objectives. With this in mind it is introducing the irresistible “Pay 1 for 2” benefits which gives Platinum card members superb privileges at award-winning hotels and airlines thus ensuring an enjoyable journey through 2010. Among the special benefits are the following:
-A Journey of Dining Pleasure:Pay 1 for 2 Persons to enjoy buffet at Riverside Terrace, Bangkok Marriott Resort & Spa (valid until 30 December 2010)
-A Journey of Serene Hideaways: Pay 1 for 2 Nights accommodation at Six Senses Resorts & Spas (valid until 20 December 2010)
-A Journey of Premier Travel: Pay a Special Rate for 2 Round-trip Cathay Pacific Air Tickets from Bangkok to Hong Kong, Singapore, Beijing, Shanghai, Colombo, New Deli, Karachi, and Mumbai (valid until 31 March 2010)
-A Journey of Championship Attractions: Pay 1 for 2 Tickets to view World Golf Championship event “HSBC Champions” in Shanghai and Women’s Champions 2010 in Singapore
-A Journey of Exquisite Rewards: Pay 1 for 2 Sets of King Power Duty Free Vouchers worth 4,000 baht per set. Use only 40,000 HSBC Reward Points to redeem 2 sets of the vouchers worth 8,000 baht in total (valid until 31 March 2011)
Moreover, HSBC Visa Platinum cardholders can enjoy special discounts and privileges at leading local stores and shops in 40 countries worldwide. They are also entitled to redeem a travel voucher worth 500 baht with only 2,500 HSBC Reward Points and use the voucher to redeem tickets from any airline of their choice. Platinum card members also receive a range of special privileges such as Platinum Concierge Service, Platinum Home and Roadside Assistance, Travel Accident Insurance, and many more.
Mr Wichit is certain that the new HSBC Visa Platinum campaign will gain positive response from the existing cardholders and attract new customers. Those who apply for an HSBC Visa Platinum Card from now until 28 February 2010 and meet the spending requirement will get a Maldives package (a roundtrip air ticket and accommodation at ClubMed) for 1 person worth 47,600 Baht.
HSBC has also appointed Noi - Krissada Sukosol Clapp, an artist and executive of The Siam Hotel, as its presenter to reinforce HSBC Visa Platinum Card’s unique image among the target group while also representing the new generation who believe that enjoying life’s journey is more important than reaching the destination. A comprehensive communication campaign will be launched to build up awareness and appreciation of this new product’s positioning.
Saturday, November 21, 2009
IVT will Demo Mobile Health System at GSMA Mobile Asia Congress and CES 2010
IVT Corporation announced today that it will demonstrate its new mobile health system at GSMA Mobile Asia Congress in Hong Kong on Nov. 18-19, at Booth F08, and CES 2010 in Las Vegas. This system allows medical monitoring from home, reducing risk of diseases and assisting with emergency rescue.
It includes:
1) A device kit with: an S120 mobile phone, wireless blood pressure meter, ECG monitor, oximeter and PSTN access point. Using these, patients measure blood pressure, cardiogram and blood oxygen levels. Vital signs are displayed on the S120 and are automatically added to the patient's health records on a remote server. The test results can be forwarded to a third party via short messages, allowing for easy monitoring by loved ones. The kit is very small and convenient.
2) An online platform has been created (http://www.mhealthservices.com ) where patients' health data is recorded in a database, provides a series of healthcare information, and can be accessed 24/7 by hospitals, emergency centres, or patients and their relatives. A special entry is given to the national emergency centre, so when the centre receives a call, the incoming caller ID provides access to the caller's e-health records, allowing them to provide better services. A similar entry exists for hospitals for a better
understanding of a patient's history.
3) A call centre in China (400-8186-120) provides 24-hour health consultations and assists processing emergency rescue requirements sent by clients.
4) The S120 is the first healthcare mobile phone featuring Fixed-Mobile Convergence. It is bound with a fixed-lined telephone via the wireless PSTN access point and can be used as a cordless phone.
If an accident happens, patients can press the S120's hotkey to connect directly to the emergency centre, to IVT's call centre via a GPRS link in real time, and automatically send a short message to all parties (IVT's call centre, emergency centre and relatives), if indoors, it connects via a PSTN line when the mobile signal is weak and the rescue message will have an indoor location.
IVT is providing mobile health services in China, IVT also exports the complete system worldwide with customizations.
It includes:
1) A device kit with: an S120 mobile phone, wireless blood pressure meter, ECG monitor, oximeter and PSTN access point. Using these, patients measure blood pressure, cardiogram and blood oxygen levels. Vital signs are displayed on the S120 and are automatically added to the patient's health records on a remote server. The test results can be forwarded to a third party via short messages, allowing for easy monitoring by loved ones. The kit is very small and convenient.
2) An online platform has been created (http://www.mhealthservices.com ) where patients' health data is recorded in a database, provides a series of healthcare information, and can be accessed 24/7 by hospitals, emergency centres, or patients and their relatives. A special entry is given to the national emergency centre, so when the centre receives a call, the incoming caller ID provides access to the caller's e-health records, allowing them to provide better services. A similar entry exists for hospitals for a better
understanding of a patient's history.
3) A call centre in China (400-8186-120) provides 24-hour health consultations and assists processing emergency rescue requirements sent by clients.
4) The S120 is the first healthcare mobile phone featuring Fixed-Mobile Convergence. It is bound with a fixed-lined telephone via the wireless PSTN access point and can be used as a cordless phone.
If an accident happens, patients can press the S120's hotkey to connect directly to the emergency centre, to IVT's call centre via a GPRS link in real time, and automatically send a short message to all parties (IVT's call centre, emergency centre and relatives), if indoors, it connects via a PSTN line when the mobile signal is weak and the rescue message will have an indoor location.
IVT is providing mobile health services in China, IVT also exports the complete system worldwide with customizations.
CIGNA Thailand on target to grow over 80 % this year and aims to be the market leader of affinity marketing of insurance services in Thailand
CIGNA Thailand is upbeat about its bright prospects, following the achievement of the sales growth of over 80 percent year-to-date. This is higher than planned target of the 40 percent annual growth targeted for Y2008-2010, owing to its continued successful implementation of the three-year business plan. As a result, its business partner number has significantly increased while call center seats jumped to 500 at present and is expected to further increase to between 800 seats to 1,000 seats by the end of next year. CIGNA is charging to be the market leader of affinity marketing of insurance services in Thailand within 3 years.
Mr. Gary Wayne Denson, Chief Executive Officer & Country Manager of CIGNA Insurance Public Company (CIPCL) and CIGNA International Marketing (Thailand) Limited (CIMT), affiliate of CIGNA Corporation and CIGNA International, said that during the first nine months of this year CIGNA Insurance Public Company Limited recorded insurance premiums of 214.2 million Baht, jumping 196 per cent from 72.35 million Baht over the same period last year, and surging 81.5 percent from 118 million Baht at the end of last year.
Mr. Denson said that one major contributor to the sales growth is the company’s successful implementation of the three-year business plan, which was announced late last year, and with the focus on differentiating our strategic initiatives to the market.
“Our business model is based on the affinity partnership. Therefore, the growth of our business partner number is very important to the growth of our business. It’s clear that one of our strategies for success is expanding the number of the business partners to as many as we can. We’re proud to say that our business partner number increased by triple from last year, most of which are the country’s leading financial institutions, plus major companies in the telecom, retail, automotive, and IT sectors,” he added.
He said that all the partners have entrusted CIGNA to provide the insurance products to their clients because of the company’s uniqueness in many areas, including its home-grown CVM strategy and legacy system called Customer Value Management (CVM), which enables the company to offer the right products and services to the right customers at the right time via the right channel. In addition, CIGNA has continued to introduce a wide array of the innovative Accidence and Health insurance products to the market. The company is the first insurance company in Thailand to introduce the Dental Protection Plan and the Vision Protection Plan. Moreover, CIGNA has continued to uplift its call center management and Telesales Representative performance to meet the international standard practices and also to comply with the OIC regulations. It has also continued developing multi -channels in order to effectively reach different customer segments. Furthermore, it has dedicatedly improved the excellence of its employees in all areas . All of these are part of its three-year business plan.
Mr. Denson said that CIGNA has strictly followed the strategies of its three-year business plan and achieved many successes this year. For an example, the company becomes the first and only insurance company in Thailand to secure the ISO 27001 certification of the Information Security Management System (ISMS).. This has boosted the level of trust and confidence in the company by its partners, who can be ensured that their customer lists entrusted to CIGNA are highly protected all the times.
Moreover, the deployment of the CVM enables CIGNA to identify the right customer target groups and also know which products in priority order to offer to specific customers. “For an example, if CIGNA has database of 100,000 customers, it does not have to randomly contact all of them as CIGNA can create a data model of 10,000 customers in order to analyze their profile and spending behaviors to find the actionable insight. Then we will apply the insight to the rest of database list. This enables the company to contact only those intending to buy to its products. The result is its ‘response rate to buy’ has kept increasing. It also means that the company’s Telesales Representatives do not have to make calls to all the customers while the customers will not have to pick up the irrelevant unsolicited calls. This practice is the trademark of CIGNA worldwide, including in Thailand, and it explains why CIGNA has earned enthusiastic response from the business partners.” Said Mr. Denson.
As the number of the company’s business partner has increased, the number of the customer lists entrusted to CIGNA has risen accordingly, prompting the company to increase its Telesales Representative number to serve its fast growing business. Currently CIGNA has two call center sites, one in its headquarters in Ploenchit and the other in CM Tower Building, Wong Wian Yai. Both venues feature combined 500 call center seats, an increase from 210 seats earlier this year. The company has a plan to increase the number of the seats to between 800 to 1,000 at the end of next year, in line with the growing business partner number.
CIGNA does not only increase the Telesales Representative number but also uplift its call center management and telesales practices to be complied with international standard and also in compliance with the OIC rules. For an example, they are required to have a license before they are permitted to solicit sales. It is mandatory that they have to make the Welcome Call or the calls to ask for customer’s confirmation of their agreement to buy the insurance plans within seven days after the customers agreed to buy the insurance plans. All of these reflect CIGNA’s strict compliance with all the relevant state regulations, regardless of the incurred additional cost from the practices.
“Due to our various achievements since early this year, CIGNA Thailand can beat the planned target of annual sales growth of 40 per cent for Y2008 -2010. This year we are on target to achieve 80 % sales growth. Moreover, we’re strongly confident that what we’re doing will definitely make us become the market leader of the Accident and Health insurance products and services provider through the telemarketing channel and alternative channels in Thailand within three years,” Mr.Denson concluded.
Mr. Gary Wayne Denson, Chief Executive Officer & Country Manager of CIGNA Insurance Public Company (CIPCL) and CIGNA International Marketing (Thailand) Limited (CIMT), affiliate of CIGNA Corporation and CIGNA International, said that during the first nine months of this year CIGNA Insurance Public Company Limited recorded insurance premiums of 214.2 million Baht, jumping 196 per cent from 72.35 million Baht over the same period last year, and surging 81.5 percent from 118 million Baht at the end of last year.
Mr. Denson said that one major contributor to the sales growth is the company’s successful implementation of the three-year business plan, which was announced late last year, and with the focus on differentiating our strategic initiatives to the market.
“Our business model is based on the affinity partnership. Therefore, the growth of our business partner number is very important to the growth of our business. It’s clear that one of our strategies for success is expanding the number of the business partners to as many as we can. We’re proud to say that our business partner number increased by triple from last year, most of which are the country’s leading financial institutions, plus major companies in the telecom, retail, automotive, and IT sectors,” he added.
He said that all the partners have entrusted CIGNA to provide the insurance products to their clients because of the company’s uniqueness in many areas, including its home-grown CVM strategy and legacy system called Customer Value Management (CVM), which enables the company to offer the right products and services to the right customers at the right time via the right channel. In addition, CIGNA has continued to introduce a wide array of the innovative Accidence and Health insurance products to the market. The company is the first insurance company in Thailand to introduce the Dental Protection Plan and the Vision Protection Plan. Moreover, CIGNA has continued to uplift its call center management and Telesales Representative performance to meet the international standard practices and also to comply with the OIC regulations. It has also continued developing multi -channels in order to effectively reach different customer segments. Furthermore, it has dedicatedly improved the excellence of its employees in all areas . All of these are part of its three-year business plan.
Mr. Denson said that CIGNA has strictly followed the strategies of its three-year business plan and achieved many successes this year. For an example, the company becomes the first and only insurance company in Thailand to secure the ISO 27001 certification of the Information Security Management System (ISMS).. This has boosted the level of trust and confidence in the company by its partners, who can be ensured that their customer lists entrusted to CIGNA are highly protected all the times.
Moreover, the deployment of the CVM enables CIGNA to identify the right customer target groups and also know which products in priority order to offer to specific customers. “For an example, if CIGNA has database of 100,000 customers, it does not have to randomly contact all of them as CIGNA can create a data model of 10,000 customers in order to analyze their profile and spending behaviors to find the actionable insight. Then we will apply the insight to the rest of database list. This enables the company to contact only those intending to buy to its products. The result is its ‘response rate to buy’ has kept increasing. It also means that the company’s Telesales Representatives do not have to make calls to all the customers while the customers will not have to pick up the irrelevant unsolicited calls. This practice is the trademark of CIGNA worldwide, including in Thailand, and it explains why CIGNA has earned enthusiastic response from the business partners.” Said Mr. Denson.
As the number of the company’s business partner has increased, the number of the customer lists entrusted to CIGNA has risen accordingly, prompting the company to increase its Telesales Representative number to serve its fast growing business. Currently CIGNA has two call center sites, one in its headquarters in Ploenchit and the other in CM Tower Building, Wong Wian Yai. Both venues feature combined 500 call center seats, an increase from 210 seats earlier this year. The company has a plan to increase the number of the seats to between 800 to 1,000 at the end of next year, in line with the growing business partner number.
CIGNA does not only increase the Telesales Representative number but also uplift its call center management and telesales practices to be complied with international standard and also in compliance with the OIC rules. For an example, they are required to have a license before they are permitted to solicit sales. It is mandatory that they have to make the Welcome Call or the calls to ask for customer’s confirmation of their agreement to buy the insurance plans within seven days after the customers agreed to buy the insurance plans. All of these reflect CIGNA’s strict compliance with all the relevant state regulations, regardless of the incurred additional cost from the practices.
“Due to our various achievements since early this year, CIGNA Thailand can beat the planned target of annual sales growth of 40 per cent for Y2008 -2010. This year we are on target to achieve 80 % sales growth. Moreover, we’re strongly confident that what we’re doing will definitely make us become the market leader of the Accident and Health insurance products and services provider through the telemarketing channel and alternative channels in Thailand within three years,” Mr.Denson concluded.
Thursday, November 12, 2009
FIRE BLACKENS PTTEP
Analysts bearish on firm and parent; project may be written off
PTT Exploration and Production has managed to squelch the
main fire at its Montara offshore well in the Timor Sea
and plugged the oil and gas leak, but it may end up having to write off the entire Bt20-billion project.
Avin Sony, an analyst at Asia Plus Securities, is particularly bearish on PTTEP.
He wrote in a report on Monday called "Platform Fire Burns Growth" that insurance might not compensate for all of the damage from the fire at the oil rig's platform.
"PTTEP has insurance coverage that allows for US$75 million [Bt2.51 billion] for damage and clean-up per occurrence, $50 million third-party casualty and up to $143 million well-head plat-
form insurance if the plat-form is totally destroyed," he said.
"We believe the total cost for the incident, which is yet to be ascertained, may exceed the insurance cover.
"Nonetheless, in the worst-case scenario, if PTTEP is unable to control the oil spill for the next two months, we believe it may have to write off the whole project. Total write-off cost could mount up to $600 million to $700 million [amounting to B6 per share]. This, in our view, will remain a key overhang on the stock."
PTTEP's shares fell 5.11 per cent yesterday to close at Bt130 on investors' concern over the company's misfortune with its Australian subsidiary. Last month, PTTEP hit a high of Bt164 with market capitalisation reaching more than Bt400 billion.
PTT, the parent of PTTEP, also took a beating yesterday. Its stock price fell 2.15 per cent to Bt228, against a high of Bt277 last month.
Both stocks account for signi-ficant weighting of the
Stock Exchange of Thailand Index.
Brokers said foreign investors have been rushing for the exit, dumping PTTEP by more than Bt10 billion so far. Yesterday, foreign selling continued at Bt2.88 billion, reflecting fears PTTEP might bleed money badly or be hit with environmental lawsuits in its exploration in the Timor Sea.
"The problem is that PTTEP might not lose just $600 million from its investment in the Australian unit from the fire, which has blackened its credibility, but it could lose more money if it
had to take on environmental lawsuits. Chevron faced lawsuits from its oil spill amounting to $20 billion," an observer said.
A Bualuang Securities analyst said in the worst case, PTTEP would shed Bt23 from its stock price as a result of the loss from its Australian drilling unit. That would cut its crude-oil sales 10 per cent to 253,000 barrels per day next year, from an initial projection of 282,000bpd. Its profit will decline 29 per cent this year and 23 per cent next year.
"But we don't think PTTEP will abandon the Australian operation, since it has about 32 million barrels in oil reserves," the analyst said.
In a research note, Ayudhya Securities said if oil production were delayed by 18 months to the third quarter of 2011, PTTEP's net profit would decline Bt37.28 billion, or 14 per cent, next year.
The securities house suspects the fire will also pressure the company's fourth-quarter net profit this year, because the company must book the cost of battling the blaze and massive oil spill.
The brokerage said it was highly possible production could be delayed, because PTTEP had to consider whether damage to the well-head was too great for production to resume.
If so, PTTEP may have to build a new well-head platform to replace the damaged one, which would take at least 18 months.
PTT Exploration and Production has managed to squelch the
main fire at its Montara offshore well in the Timor Sea
and plugged the oil and gas leak, but it may end up having to write off the entire Bt20-billion project.
Avin Sony, an analyst at Asia Plus Securities, is particularly bearish on PTTEP.
He wrote in a report on Monday called "Platform Fire Burns Growth" that insurance might not compensate for all of the damage from the fire at the oil rig's platform.
"PTTEP has insurance coverage that allows for US$75 million [Bt2.51 billion] for damage and clean-up per occurrence, $50 million third-party casualty and up to $143 million well-head plat-
form insurance if the plat-form is totally destroyed," he said.
"We believe the total cost for the incident, which is yet to be ascertained, may exceed the insurance cover.
"Nonetheless, in the worst-case scenario, if PTTEP is unable to control the oil spill for the next two months, we believe it may have to write off the whole project. Total write-off cost could mount up to $600 million to $700 million [amounting to B6 per share]. This, in our view, will remain a key overhang on the stock."
PTTEP's shares fell 5.11 per cent yesterday to close at Bt130 on investors' concern over the company's misfortune with its Australian subsidiary. Last month, PTTEP hit a high of Bt164 with market capitalisation reaching more than Bt400 billion.
PTT, the parent of PTTEP, also took a beating yesterday. Its stock price fell 2.15 per cent to Bt228, against a high of Bt277 last month.
Both stocks account for signi-ficant weighting of the
Stock Exchange of Thailand Index.
Brokers said foreign investors have been rushing for the exit, dumping PTTEP by more than Bt10 billion so far. Yesterday, foreign selling continued at Bt2.88 billion, reflecting fears PTTEP might bleed money badly or be hit with environmental lawsuits in its exploration in the Timor Sea.
"The problem is that PTTEP might not lose just $600 million from its investment in the Australian unit from the fire, which has blackened its credibility, but it could lose more money if it
had to take on environmental lawsuits. Chevron faced lawsuits from its oil spill amounting to $20 billion," an observer said.
A Bualuang Securities analyst said in the worst case, PTTEP would shed Bt23 from its stock price as a result of the loss from its Australian drilling unit. That would cut its crude-oil sales 10 per cent to 253,000 barrels per day next year, from an initial projection of 282,000bpd. Its profit will decline 29 per cent this year and 23 per cent next year.
"But we don't think PTTEP will abandon the Australian operation, since it has about 32 million barrels in oil reserves," the analyst said.
In a research note, Ayudhya Securities said if oil production were delayed by 18 months to the third quarter of 2011, PTTEP's net profit would decline Bt37.28 billion, or 14 per cent, next year.
The securities house suspects the fire will also pressure the company's fourth-quarter net profit this year, because the company must book the cost of battling the blaze and massive oil spill.
The brokerage said it was highly possible production could be delayed, because PTTEP had to consider whether damage to the well-head was too great for production to resume.
If so, PTTEP may have to build a new well-head platform to replace the damaged one, which would take at least 18 months.
STIFFENING RESOLVE, MISSED BIRTHDAY OPPORTUNITY
Two presenters of a saucy late-night TV show are bickering over the right way to refer to the male member in public, in a growing row which started over herbal erection gels.
Piyamas "Boo" Monayakul has warned co-presenter Jutharat "Mor Oiy" Athakorn to watch her words, after bad publicity concerning an erection gel that she promotes started hurting her own sex-aid earnings.Both co-hosts have a hand in the lucrative herbal supplements industry.
Mor Oiy has fallen foul of the law for endorsing an illegal sexual performance gel, which Boo says is having an impact on her own business.
Boo runs a health and cosmetics company which sells the Return Brother erection gel. She said sales have plummeted since drug authorities declared last week that a rival erection gel promoted by Mor Oiy is actually fake.
Mor Oiy promotes the Max Andro for Men erection gel for a Bangkok company which was raided by drugs authorities.
On Sept 18, the Food and Drug Administration raided Property Technology Ltd and Facial and Body Essentials Ltd in the Chatuchak area.Two men were arrested, and 500,000 baht worth of goods seized.
The suspects have been charged with distributing and selling a fake gel, and displaying a bogus label.FDA's deputy secretary-general,Narangsan Peerakij, said he would call in the gel promoter, Mor Oiy, to warn her to be more careful.
Her television co-host Boo says Thais are now confusing the two gels, and that as a result, sales of her product, Return Brother - which she says has drug agency approval - have suffered.
Boo and her business partner in Return2Beauty Ltd, Anan "Uan"Semathong, went before the media holding a tube of Return Brother,and a prosthetic penis.
"In comments on the drug raid,Mor Oiy mentioned the words,'little brother' to refer to the penis.
"Our product goes by a similar name, and Thais are now linking the two. Our income has plunged,"said Boo, who struggled to hold back tears.
"Thais are asking whether Return Brother is fake, and whether a herbal coffee we have launched is actually a sexual enhancement drug in disguise," she complained.
The coffee is aimed at older men,but is not a sex drug, she insists.
"We have worked together for more than a year, and are still friends.But her slip of the tongue has cost us dearly," said Boo.
Boo and Mor Oiy present the Sexy Night show on H Plus Channel, part of Asia Television, where ads for Mor Oiy's gel were also aired.
In response, Mor Oiy said everyone knows that "little brother"(nong chai in Thai) is a veiled reference to the male member. She would keep using it, as there are few better alternatives.
"It's just a misunderstanding,"she said, referring to Boo's warning.
Known for her daring magazine shoots, Mor Oiy posed virtually naked in July for the Thai edition of Penthouse magazine.
"I graduated in nursing, and have examined men's penises for years.The company selling the gel naturally thought of me when it wanted a star to promote it," said Mor Oiy.
However, she denies complicity in any attempt to hoodwink the public."I'm a woman - how would I know if it actually works?"
The model and presenter insists she took proper precautions before agreeing to promote the product."The owner told me it had FDA certification, and showed me the documents," she insisted."I also asked the guys on my television crew.They assured me it did the trick."
As for the drug agency warning,Mor Oiy said she suspects the FDA is merely trying to drum up publicity for itself."I might have to sue. I act as promoter for many products, and this could damage my credibility."
Many happy returns?
Woe betide a man who forgets his former girlfriend's birthday, says playboy model/DJ Pakorn "Dome"Lum, still smarting after his exgirlfriend accused him of having no heart when he failed to send her best wishes on her big day.
Actress Cherman "Ploy"Boonyasak is unhappy Dome forgot her birthday last Tuesday, and has told everybody how she feels.
He did not send her a text message to mark the event, which showed he was selfish and mean, she told reporters. They were also supposed to make merit at a temple, but he did not contact her.
Asked about her remarks, Dome insisted he did not forget, but chose to let Ploy's birthday pass - just as Ploy had chosen to say nothing on his birthday, which fell just three days before.
"I am getting sick of this nonsense," said Dome, fuming at journalists.
"If I was to say that my own birthday fell three days before, and that Ploy let it pass unremarked,what would you say? It would become a bone of contention between us.
"I am now seeing someone else.If I had sent Ploy a birthday message,then you'd start asking howmy new friend felt. I can't win," he said.
Two stars who have fallen out should set an example to the young,and avoid skirmishing in public, he said.
"We have to be able to look each other in the face, even though we are no longer an item."
Ploy and Dome were hailed by the media as a fairy-tale couple.Dome said that despite the exchange over the forgotten birthday, they are still good friends, and are hired to turn up as a couple at industry events.
Sticks and stones
Model Sura "Nicky the Stick"Theerakol has hurt himself in a motorcycle accident, but says his vital parts are still in working order.
"My right elbow is shattered, and I cut my nose, but my nine inches are still intact," said Nicky, referring to the "stick" that gives him his nickname.
"I checked with a male nurse,and he said it's fine."
He was speaking from Piyawet Hospital, where Nicky is recovering after his motorcycle overturned in the Ratchayothin Road area early last Tuesday.
Nicky was heading to the market when the front tyre of his bike burst.
"I came off the bike, which charged on ahead of me. I was spun about,and felt my arm strike the footpath.Then I hit a tree face-on.
"At that moment I thought I would probably not be able to pose nude again, but it turned out to be not so bad," he joked.
"I didn't faint, which is a pity, as it might have dulled the pain," he said."The first person I called, as I propped myself up on the footpath,was a woman friend, as I needed care and attention."
Also known as the "Godfather of Nude" for his revealing photo spreads, Nicky underwent a threehour operation on his elbow, and will wear a cast on his arm for six weeks.
Mirror, mirror on the wall
Grammy singer Pichaya "Golf"Nitipaisalkul has severed a tendon in his hand. After he was bandaged up, mum hastened him off to a temple to make merit.
Golf, of the singing duo Golf and Mike, was practising his dance moves in front of a mirror when he whacked it with his right hand, severing a tendon.
The doctor says he will have to wear a plaster cast for a month, but his mum is worried it might herald a spell of further bad luck.
"This is the most serious injury Golf has suffered," said Mrs Prasai."Last time he tore a tendon, this time he has severed it. Who knows what will happen next, so I took him to a temple in Sing Buri to make merit.
"I can't remember the name of the place, but we made a donation for a new Buddha statue, so hopefully that will alleviate any bad luck which follows. I also told him to visit his fortune teller, to see what he has to say," said Mrs Prasai.
Piyamas "Boo" Monayakul has warned co-presenter Jutharat "Mor Oiy" Athakorn to watch her words, after bad publicity concerning an erection gel that she promotes started hurting her own sex-aid earnings.Both co-hosts have a hand in the lucrative herbal supplements industry.
Mor Oiy has fallen foul of the law for endorsing an illegal sexual performance gel, which Boo says is having an impact on her own business.
Boo runs a health and cosmetics company which sells the Return Brother erection gel. She said sales have plummeted since drug authorities declared last week that a rival erection gel promoted by Mor Oiy is actually fake.
Mor Oiy promotes the Max Andro for Men erection gel for a Bangkok company which was raided by drugs authorities.
On Sept 18, the Food and Drug Administration raided Property Technology Ltd and Facial and Body Essentials Ltd in the Chatuchak area.Two men were arrested, and 500,000 baht worth of goods seized.
The suspects have been charged with distributing and selling a fake gel, and displaying a bogus label.FDA's deputy secretary-general,Narangsan Peerakij, said he would call in the gel promoter, Mor Oiy, to warn her to be more careful.
Her television co-host Boo says Thais are now confusing the two gels, and that as a result, sales of her product, Return Brother - which she says has drug agency approval - have suffered.
Boo and her business partner in Return2Beauty Ltd, Anan "Uan"Semathong, went before the media holding a tube of Return Brother,and a prosthetic penis.
"In comments on the drug raid,Mor Oiy mentioned the words,'little brother' to refer to the penis.
"Our product goes by a similar name, and Thais are now linking the two. Our income has plunged,"said Boo, who struggled to hold back tears.
"Thais are asking whether Return Brother is fake, and whether a herbal coffee we have launched is actually a sexual enhancement drug in disguise," she complained.
The coffee is aimed at older men,but is not a sex drug, she insists.
"We have worked together for more than a year, and are still friends.But her slip of the tongue has cost us dearly," said Boo.
Boo and Mor Oiy present the Sexy Night show on H Plus Channel, part of Asia Television, where ads for Mor Oiy's gel were also aired.
In response, Mor Oiy said everyone knows that "little brother"(nong chai in Thai) is a veiled reference to the male member. She would keep using it, as there are few better alternatives.
"It's just a misunderstanding,"she said, referring to Boo's warning.
Known for her daring magazine shoots, Mor Oiy posed virtually naked in July for the Thai edition of Penthouse magazine.
"I graduated in nursing, and have examined men's penises for years.The company selling the gel naturally thought of me when it wanted a star to promote it," said Mor Oiy.
However, she denies complicity in any attempt to hoodwink the public."I'm a woman - how would I know if it actually works?"
The model and presenter insists she took proper precautions before agreeing to promote the product."The owner told me it had FDA certification, and showed me the documents," she insisted."I also asked the guys on my television crew.They assured me it did the trick."
As for the drug agency warning,Mor Oiy said she suspects the FDA is merely trying to drum up publicity for itself."I might have to sue. I act as promoter for many products, and this could damage my credibility."
Many happy returns?
Woe betide a man who forgets his former girlfriend's birthday, says playboy model/DJ Pakorn "Dome"Lum, still smarting after his exgirlfriend accused him of having no heart when he failed to send her best wishes on her big day.
Actress Cherman "Ploy"Boonyasak is unhappy Dome forgot her birthday last Tuesday, and has told everybody how she feels.
He did not send her a text message to mark the event, which showed he was selfish and mean, she told reporters. They were also supposed to make merit at a temple, but he did not contact her.
Asked about her remarks, Dome insisted he did not forget, but chose to let Ploy's birthday pass - just as Ploy had chosen to say nothing on his birthday, which fell just three days before.
"I am getting sick of this nonsense," said Dome, fuming at journalists.
"If I was to say that my own birthday fell three days before, and that Ploy let it pass unremarked,what would you say? It would become a bone of contention between us.
"I am now seeing someone else.If I had sent Ploy a birthday message,then you'd start asking howmy new friend felt. I can't win," he said.
Two stars who have fallen out should set an example to the young,and avoid skirmishing in public, he said.
"We have to be able to look each other in the face, even though we are no longer an item."
Ploy and Dome were hailed by the media as a fairy-tale couple.Dome said that despite the exchange over the forgotten birthday, they are still good friends, and are hired to turn up as a couple at industry events.
Sticks and stones
Model Sura "Nicky the Stick"Theerakol has hurt himself in a motorcycle accident, but says his vital parts are still in working order.
"My right elbow is shattered, and I cut my nose, but my nine inches are still intact," said Nicky, referring to the "stick" that gives him his nickname.
"I checked with a male nurse,and he said it's fine."
He was speaking from Piyawet Hospital, where Nicky is recovering after his motorcycle overturned in the Ratchayothin Road area early last Tuesday.
Nicky was heading to the market when the front tyre of his bike burst.
"I came off the bike, which charged on ahead of me. I was spun about,and felt my arm strike the footpath.Then I hit a tree face-on.
"At that moment I thought I would probably not be able to pose nude again, but it turned out to be not so bad," he joked.
"I didn't faint, which is a pity, as it might have dulled the pain," he said."The first person I called, as I propped myself up on the footpath,was a woman friend, as I needed care and attention."
Also known as the "Godfather of Nude" for his revealing photo spreads, Nicky underwent a threehour operation on his elbow, and will wear a cast on his arm for six weeks.
Mirror, mirror on the wall
Grammy singer Pichaya "Golf"Nitipaisalkul has severed a tendon in his hand. After he was bandaged up, mum hastened him off to a temple to make merit.
Golf, of the singing duo Golf and Mike, was practising his dance moves in front of a mirror when he whacked it with his right hand, severing a tendon.
The doctor says he will have to wear a plaster cast for a month, but his mum is worried it might herald a spell of further bad luck.
"This is the most serious injury Golf has suffered," said Mrs Prasai."Last time he tore a tendon, this time he has severed it. Who knows what will happen next, so I took him to a temple in Sing Buri to make merit.
"I can't remember the name of the place, but we made a donation for a new Buddha statue, so hopefully that will alleviate any bad luck which follows. I also told him to visit his fortune teller, to see what he has to say," said Mrs Prasai.
Magnificent seven
In the most important, most revered event since the invention of the brontosaurus trap,Microsoft shipped the most incredibly fabulous operating system ever made; the release of Windows 7 also spurred a new generation of personal computers of all sizes at prices well below last month's offers.The top reason Windows 7 does not suck: There is no registered website called Windows7Sucks.com
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
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